Last Updated January 25, 2008
The Export-Import Bank of China (China Exim) is to provide funds to support the construction of a 430km railway line connecting Kaedi in the South of Mauritania, to the country's capital Nouakchoot. China Exim is set to provide US$686mn, around 70% of the total cost of the railroad, around US$686mn. The remaining costs are said to be financed by Mauritania's Phosphate Company. An agreement was signed this week between Mauritanian transport minister Mohameden Ould Ahmed and China Exim’s general manager, Dai Chun Li.
The project will help the development of the country’s mineral resources production, aiding the transportation of goods and people.
Last year China’s Transtech Engineering (a subsidiary of China Railway Engineering) secured a transaction with a Sudanese company Danfodio Holding to build a rail line linking the Mauritian capital with key supplies of phosphate, often used as fertiliser, in the south of the country.
Transtech and China Railway Engineering also won a US$1bn contract in 2007 to build a 700km rail link in Sudan between the capital of Khartoum and the eastern Port Sudan.
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