China invests $ 6 bn in Sudan's oil

Nov 06, 2007 01:00 AM

The total amount of Chinese investments in Sudan in the field of petroleum have reached more than $ 6 bn in the past decade at around 14 oil projects, a Sudanese diplomat said.
Ambassador at the Ministry of Foreign Affairs, Ali Yousif, presented a paper at a workshop organized on the "Challenges Facing Peace in Sudan" which was organized by the Middle East Studies Centre in collaboration with the Beijing-based International Relations Studies Institute.

He said that China has so for provided five preferential loans to Sudan amounting to $ 184 mm. He also said progress of the commercial cooperation between Sudan and China has jumped from $ 74 mm in 1989 to $ 3.9 bn in the year 2005.
Yousif indicated that Sudan is considered the third commercial partner of China in Africa, only preceded by Angola and South Africa.

The most important venture undertaken by China in Sudan is the Merowe Dam project, which is regarded as one of the biggest project implemented by Sudan throughout its history at a cost of $ 50 mm.
The Sudanese diplomat recommended that a higher council be formed for the promotion of the Sudanese-Chinese relations. This council would be chaired by the Vice-President of the Republic in both countries, the further said.

Source / Sudantribune.com
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