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Friday, May 1, 2015
Equatorial Guinea and China signed a number of MoUs during a visit by the Minister of Mines, Industry and Energy to China. The MoUs were signed with a number of Chinese companies covering large areas of cooperation in the electricity and industrial sectors. The agreements were made during the Equatorial Guinea-Asia Economic Forum, hosted by Equatorial Guinea at the Shangri-La Hotel, in Dalian. The economic forum was organized in Dalian to introduce investment opportunities in Equatorial Guinea to Chinese companies.
The Ministry of Mines, Industry and Energy was represented by the Minister, Gabriel Mbaga Obiang Lima. China Dalian International Cooperation Group (CDIG) was represented by the company’s president, Mr. Zhu Mingyi.
The MoUs signed included one with CDIG for the execution of a study for the development of the industrial city of Mbini. Within the agreement, CDIG will undertake preliminary technical studies and will explore key areas to promote the Industrial City of Mbini to international investors. The industrial city of Mbini is planned to be a key reference point for investment in West Africa and an important component in Equatorial Guinea’s plans to diversify its economy.
Another MoU was signed with the China State Construction Engineering Corp. for the planning and development of the Petroleum Industrial City of Luba. In addition the Ministry signed a MoU with Sinohydro Corp. for a feasibility study on the development of a new hydroelectric plant on the Wele River, in Equatorial Guinea. Sinohydro had previously been involved in the construction of the 120-MW Djibloho hydroelectric plant, as well as electrification projects in Mongomeyen and the mainland city of Bata.
China Machinery Engineering Corp. (CMEC) and Equatorial Guinea also signed a MoU for a technical and financial viability study to build a new combined cycle 100 MW power plant in the city of Kogo. A MoU with CMEC calls for a technical and financial viability study for the establishment of an interconnection electricity grid in the CEMAC region, as well as a technical and financial viability study to build street lamps and related public lighting infrastructure in the Industrial City of Mbini.
The agreements with the Chinese companies came just days following an official state visit from Teodoro Obiang Nguema Mbasogo, the President of Equatorial Guinea, in which the multiple agreements were reached aimed at strengthening economic and political ties.
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