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

  • The Chinese Race to Artificial Intelligence

    August 10, 2018

    China is no longer just a manufacturing power, but a technologically advance...

  • Made in China 2025 and the Belt and Road Initiative

    August 10, 2018

    The industrial policy of “Made in China 2025” clearly focuses on innovatio...

  • Trump cannot push back China with $113m

    August 8, 2018

    Although the “Belt and Road Initiative” has caused some worries and rebou...

  • Beijing’s maritime gifts

    August 7, 2018

    Beijing seems to be strengthening its capacity building at sea.

  • 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