June 18, 2013
The Cuban government has expressed an interest in recent years in increasing electricity production from renewable sources.
Reposted from The Business Standard
Cuba plans to build a $60 million power plant fueled by sugarcane residue, marking the island’s first foray into electricity generation using biofuel.
The plant will be built with Chinese technology and technical support, the official Prensa Latina news agency reported.
Construction of the 20 MW power plant will begin at the end of this year at a sugar refinery in the western province of Matanzas, Prensa Latina said. More…
June 18, 2013
Reposted from AllAfrica
More than a million Chinese have moved to Africa in the last decade, largely because they see the continent as an arena of almost limitless opportunity.
By Howard W. French
For the last three years, I have traveled extensively in sub-Saharan Africa, after an unaccustomed absence. My recent experiences, which have ranged through every region of the subcontinent, tell me two essential things: Africa is caught up in intense and rapid change, and American policy toward the continent is not adjusting fast enough.
A trickle of articles in the American press has belatedly recognized Africa’s strong run of economic growth. Some of them have touted the expansion of a new African middle- or consumer-class, which by some measures is larger than that of India. Others have focused on the continent’s overall economic growth, drawing on data and forecasts from the International Monetary Fund and other sources. These suggest that over the next several years, Africa will grow faster than any other continent, including Asia. More…
June 17, 2013
Reposted from Reuters
The pipelines are China’s most strategically important investment in Myanmar.
By Jason Szep
A pipeline connecting western Myanmar to China is ready to carry gas from July, but it won’t be fully operational for about three more months due to construction delays in China, Myanmar’s energy minister said.
The multibillion-dollar pipeline stretches 870 km (540 miles) from the Indian Ocean to the Chinese border and will deliver oil and gas to energy thirsty western China and generate much-needed revenue for Myanmar’s new reformist government. More…
June 15, 2013
The Prime Minister of Pakistan met with a Chinese delegation to discuss investment in Pakistan’s energy sector.
Reposted from PakTribune
ISLAMABAD: Prime Minister Nawaz Sharif on Thursday invited the Chinese companies to invest in the energy sector of Pakistan as the country is experiencing a severe power shortage.
In a meeting with the five-member delegation led by China North Industries Corporation (NORINCO) Chairman Wang Yitong, which called on him, the prime minister invited the company, which produces solar power plants, to install solar power plants in Pakistan. The prime minister assured the Chinese delegation that his government was ready and will extend all possible support and cooperation to NORINCO to expedite the process so that work on these projects can start in earnest. More…
June 13, 2013
Reposted from People’s Daily Online
Chinese technicians and African workers at an expressway construction site in Nairobi, Kenya. China has established two funds to finance Chinese enterprises investing in Africa.
The China-Africa Business Council and the China-Africa Development Fund have decided to set up two new funds this year boost China’s investment in Africa. One fund is for commercial ventures, and the other, for mining activities.
Zheng Yuewen, chairman of CABC, which represents the interests of more than 550 Chinese companies in Africa, said each fund will raise $1 billion in its initial phase from member companies and the CADFund, China’s largest private equity fund focusing on African investments. More…
June 12, 2013
Reposted from Bloomberg Businessweek
In April, the World Bank cut a forecast for 2013 Mongolian economic growth to 13 percent from 16 percent, citing declines in exports and foreign investment.
by Michael Kohn
Mineral-rich Mongolia’s export income dropped in the first five months of this year as a result of falling coal prices paid by China, the nation’s largest trading partner.
Mongolia’s exports fell 3.3 percent to $1.64 billion in the first five months of this year from the same period last year, the National Statistics Office said in a release on its website yesterday. The value of coal shipments declined 44 percent to $448.6 million, while volumes dropped 14 percent to 6.33 million tons, according to the statement. More…
June 12, 2013
Reposted from The Irrawaddy
Workers building the Chinese-backed Kyaukpru deep-sea port project, which will include a gas refinery.
By Wayne Arnold
In a few months, impoverished Burma plans to start pumping roughly $45 million worth of oil and gas a day from the Bay of Bengal to China by pipeline. The vital fuel for China’s growing economy will bypass the Malacca Straits and US ally Singapore.
It will mostly also bypass Burma. More…
June 4, 2013
Chinese firms are investing millions in Ethiopia’s manufacturing sector
Reposted from the Financial Times
By William Wallis
Huajian, one of the largest shoe exporters in China, is planning a multimillion-dollar factory expansion in Ethiopia in a sign that Chinese manufacturers are starting to move to Africa to benefit from preferential trade tariffs and lower labour costs.
To read the full article, please visit the FT site More…
June 3, 2013
China is the biggest customer of Iraqi oil
Reposted from The New York Times
By Tim Arango and Clifford Krauss
Since the American-led invasion of 2003, Iraq has become one of the world’s top oil producers, and China is now its biggest customer.
China already buys nearly half the oil that Iraq produces, nearly 1.5 million barrels a day, and is angling for an even bigger share, bidding for a stake now owned by Exxon Mobil in one of Iraq’s largest oil fields.
“The Chinese are the biggest beneficiary of this post-Saddam oil boom in Iraq,” said Denise Natali, a Middle East expert at the National Defense University in Washington. “They need energy, and they want to get into the market.” More…
May 31, 2013
Ethiopia is signing a deal with China’s ZTE and Huawei to double mobile phone subscribers to 40 million
Reposted from Reuters
By Aaron Maasho
Ethiopia will sign agreements with China’s ZTE Corp and Huawei Technologies Co Ltd in a “few weeks” to expand its mobile phone infrastructure and double subscribers to 40 million, a senior Ethiopian official said on Thursday.
ZTE Corp, China’s second-largest telecoms equipment maker, has already been involved in developing phone and internet services in the Horn of Africa nation for several years. More…