YAOUNDE, Jan 14 (Reuters) - Indian engineering firm Angelique International will build two hydro power plants in Cameroon as part of a 125 billion CFA francs ($251.5 million) aid deal, the central African country said late on Tuesday.
State-owned Export-Import Bank of India will loan the money to Cameroon, the second such deal signed between the Gulf of Guinea nation and Angelique in the past two months.
As well as power plants, the money will finance drinking water and sanitation projects.
Most of Cameroon's electricity is generated by hydroelectric power stations, but droughts can leave the country facing electricity shortages.
Cameroon's Water and Energy Minister Jean Bernard Sindeu said the deal signed on Tuesday was "a welcome relief for the millions of people living in rural Cameroon who are in dire need of electricity, drinking water and sanitation facilities."
Angelique was due to start work on the projects in July, Sindeu said.
Details of the loan repayment schedule and interest rate have yet to be finalised.
Wednesday, 28 January 2009
Angola's double-digit growth record to end -analysts
By Henrique Almeida
LUANDA, Jan 27 (Reuters) - Angola's economy could grow less than 6.3 percent in 2009, well below the double-digit growth that has sustained the oil-producing African nation since 2002, analysts said on Tuesday.
Angola, which rivals Nigeria as sub-Saharan Africa's biggest oil producer, has averaged 15 percent a year GDP growth since the end of a civil war in 2002, making it one of the world's fastest growing economies.
It has lured billions in foreign investment.
But Alves da Rocha, a leading Angolan economist, said weakness in the global economy and a sharp drop in oil prices should put the brakes on growth and hamper government plans to rebuild the country and improve the lives of ordinary Angolans.
LUANDA, Jan 27 (Reuters) - Angola's economy could grow less than 6.3 percent in 2009, well below the double-digit growth that has sustained the oil-producing African nation since 2002, analysts said on Tuesday.
Angola, which rivals Nigeria as sub-Saharan Africa's biggest oil producer, has averaged 15 percent a year GDP growth since the end of a civil war in 2002, making it one of the world's fastest growing economies.
It has lured billions in foreign investment.
But Alves da Rocha, a leading Angolan economist, said weakness in the global economy and a sharp drop in oil prices should put the brakes on growth and hamper government plans to rebuild the country and improve the lives of ordinary Angolans.
RPT-FEATURE-China marches on in Africa despite downturn
By Alistair Thomson
DAKAR, Jan 28 (Reuters) - Chinese businessmen are taking a long-term view and pursuing strategic expansion in Africa even though China's multiplying investments on the continent have lost some lustre in the global downturn.
Beijing and Chinese companies have pledged tens of billions of dollars to Africa in loans and investments mostly to secure raw materials for the world's fastest-growing large economy.
That long-term interest remains intact, despite a worldwide economic slump that has hit China's exports to the rich world and a sharp decline in Africa's mineral shipments to China.
China-Africa trade has surged by an average 30 percent a year this decade, soaring to nearly $107 billion in 2008.
DAKAR, Jan 28 (Reuters) - Chinese businessmen are taking a long-term view and pursuing strategic expansion in Africa even though China's multiplying investments on the continent have lost some lustre in the global downturn.
Beijing and Chinese companies have pledged tens of billions of dollars to Africa in loans and investments mostly to secure raw materials for the world's fastest-growing large economy.
That long-term interest remains intact, despite a worldwide economic slump that has hit China's exports to the rich world and a sharp decline in Africa's mineral shipments to China.
China-Africa trade has surged by an average 30 percent a year this decade, soaring to nearly $107 billion in 2008.
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