Login

Reload

Remember me Forgot it?

Not a subscriber?

Click on the button below to create your account and get immediate access to Xinhua Silk Road Database.

Start a Free Trial

Subscribe

Belt & Road Weekly Subscription Form

Research Report

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

companies

HOME > Company


COIDIC, Djibouti FTZ ink MOU on oil reservoir and supporting infrastructure project

September 7, 2018


Abstract : China Overseas Infrastructure Development and Investment Corporation (COIDIC) and Port of Djibouti and Administration of Free Trade Zone (FTZ) inked memorandum of understanding (MOU) on oil reservoir and supporting infrastructure project on

2

CHANGSHA, Sept. 7 (Xinhua) -- China Overseas Infrastructure Development and Investment Corporation (COIDIC) and Port of Djibouti and Administration of Free Trade Zone (FTZ) inked memorandum of understanding (MOU) on oil reservoir and supporting infrastructure project during the 4th Investing in Africa Forum held in Changsha, central China’s Hunan Province on Thursday.

1

The oil reservoir and supporting infrastructure project marks an important achievement made by COIDIC and Djibouti in the field of energy and infrastructure. Based on the MOU, COIDIC has been granted the exclusive right to explore the project. Upon completion, the project will become the first large oil reservoir facility in the region and produce a far-reaching influence on development of the regional economy.

COIDIC, China’s first and largest overseas infrastructure development platform with a total registered capital of 500 million U.S. dollars, is established joinyly by China-Africa Development Fund (CADFund), an equity investment fund managed by China Development Bank, and a number of Chinese corporations engaged in large-scale infrastructure building, investment, operation and design.

The CADFund, established in June 2007 and boasting a total scale of 10 billion U.S. dollars, is the first Chinese equity investment fund that focuses on investments in Africa. It encourages and supports Chinese enterprises to invest in Africa. By far, it has invested over 4.6 billion U.S. dollars in 92 projects of 36 African countries. (Edited by Zhang Yuan, zhangyuan11@xinhua.org)


Related Coverage

Focus

Think Tank

  • China's rural land reform will go much deeper this y...

    February 21, 2019

    As stated by the Document, "laws, regulations and policy measures need to be...

  • How will Brexit crisis affect China-UK economic ties...

    February 20, 2019

    It is crucial for China to understand that the first forces active in the Br...

  • Why China remains a magnet for foreign investment?

    February 20, 2019

    With all of these new initiatives in the works, it's fair to say that China ...

  • Greater Bay Area a center of innovation

    February 20, 2019

    The successful establishment of the Greater Bay Area as a center of scientif...

  • Ask Us A Question

    If you have any questions, please enter them in the box below.

    Reload

    Write to Us

    Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

    Click on the button below to create your account and get imhttp://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

    Start a Free Trial