Month: April 2019
Zhonghao Overseas Construction Engineering Co, a Beijing-based private company established in 2001, has been drill
ing wells in countries involved in the Belt and Road Initiative, including in Algeria, Ghana, Kenya, Nigeria and Uganda.
Tian Chao, president of the company, said those projects have provid
ed jobs for local people, solved their water problems and helped balance foreign exchange.
“The projects are platforms for more influential good things that we can do for those countries,” he said.
The company said it has drilled about 10,000 wells in 275 projects in those countries, with a total c
ontract value of $510 million. The wells ensure that more than 20 million African people can drink clean water, Tian said.
At present, the company employs around 200 Chinese in Africa, with an average age of 30. The company has been inve
sting in projects that are beneficial to local communities in Africa, with the help of Beijing’s Foreign Affairs Office.
project, 95 percent of it provided by China through preferential and b
uyers’ loans. China Export and Credit Insurance Corporation, a State-funded policy-oriented i
nsurance company, provided insurance services for the project, which helped the local government sacure $680 milli
on in business loans from Chinese banks, greatly reducing pressure on the project’s financing.
Mozambique’s President, Filipe Jacinto Nyusi, had long nursed ambitions of one day seeing a bridge lin
king Maputo city center and Katembe, and when it was finally opened in November he said it wou
ld greatly facilitate transport and connectivity between Mozambique and other parts of Africa.
Wang said the bridge will give great economic stimulus to Katembe, long underdeveloped because of its poor tran
sport access. It also eases demographic pressures on Maputo, a city with a population of 1.7 million.
pillars of the initiative are important. The most and best (part) of it, I think, is connectiv
ity and inter-culture exchange, sustainable development agenda, and knowledge transfer.
China is the biggest market in the world. We have enough resources in our country. We want our p
roduct get access to the market and we also want to live in good infrastructure, such as roads, railw
ays, schools, hospitals. I also hope knowledge of China come to our country. We have sea access, and good infra
structure can help our country and neighboring countries get access to the Maritime Silk Road.
China has become the second-largest investor of our count
ry in the past 10 years. It’s investing infrastructure, mining
and agriculture. We have Confucius Institute, facilitate Chinese and Portuguese learning. The Belt and Road
Initiative helps Mozambique boost its industrialization, technology and finance.