China, Cape Verde sign cement deal in Macao

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Last updated at: (Beijing Time) Tuesday, October 14, 2003

China, Cape Verde sign cement deal in Macao

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China's largest foreign economic-technical cooperation company in building material signed on Monday a 54-million-US-dollar cement plant construction contract with the trade delegation of Cape Verde at an international trade fair here.

Yang Deshan, vice president of the China Building-Material Industrial Corporation for Foreign Econo-Technical Cooperation, said that the contract for building a cement plant in Cape Verde would turn the country from a net cement importer to an exporter.

Cape Verde has a demand for 200,000 tons of cement import annually. The planned plant with a designed annual production capacity of 350,000 tons will not only satisfy the demand, but will also save 150,000 tons for export.

The plant is the Chinese company's first investment in Portuguese-speaking countries, said Yang, who is a member of the Chinese trade delegation led by Vice Minister of Commerce An Min to attend the Forum for Economic and Trade Cooperation between China and Portuguese-speaking countries which is going on in Macao.

He said the holding of the first trade forum between China and Portuguese-speaking countries, which brought the trade delegation of Cape Verde composed of officials in charge of environmental protection, industry and commerce, provided a rare opportunity for his company to seal the deal.

The company is one of the earliest Chinese firms to conduct foreign econo-technical cooperation, which started in 1970s. Since then, it has made investment in some 70 countries and regions in fields of mining, building material production, construction and engineering.

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