Barely three weeks after the conclusion of the first ever One Belt One Road framework Conference in Beijing, major Chinese companies are conveying their readiness to increase investments in countries which have so far enlisted in the program.
The companies, which are mostly state-owned, are positive that the new structure of engagement will provide a mutually beneficial economic, social, and political climate between the countries involved and China, the second largest economy in the world.
Africa at present is witnessing a rapidly increasing infrastructural and industrial development.
The most notable projects in this area are being undertaken by Chinese companies.
At the close of the Belt and Road Forum, the World leaders who met during the summit resolved to place great emphasis on the problem of backward infrastructure and lack of financing for key projects, especially in Africa.
This past week, perhaps to set the ball rolling, a number of Chinese companies with their headquarters in Chengdu, Sichuan Province, announced plans to expand operations in Africa.
China Railway Engineering Group Company Limited, says it will double its operations in Africa in the next decade. The company is a strong player focusing exclusively on railway construction.
“China Railway No. 2 is an important construction contractor in Africa, and our company is expecting more opportunities to participate in the construction in Africa.” Said Mr. Liao Zhiming, the Managing Director of China Railway No.2 Engineering Group.
This, according to the company’s managing director will help them play the role of deepening the friendship, communication, and cooperation between China and Africa.
CREGC, the third engineering company of China Railway, is however not only involved in railway construction.
Its scope has so far expanded to areas of engineering construction, infrastructure construction, and management, real estate development, international projects and business, survey, and design and consulting, trade and logistics and commercial property development.
The company is keen to establish some of, if not, all projects in these sectors in the continent.
The other firm from Sichuan that is training its eyes on Africa is the Dongfang Electronic Corporation.
Popularly known as DEC, the firm is one of the world’s largest power generating equipment manufacturers and power plant contractors.
The power company is involved in efforts to develop high-efficient clean energy. It boasts a huge capacity to especially develop hydro, thermal, nuclear, gas, the wind and solar power equipment.
The company’s chief executives disclosed that they have identified energy bottlenecks in Africa. In their opinion, Dongfang Electric Corporation has the capacity to bridge electricity insufficiency all across Africa.