| The Survey of Sino-Sierra Leone Mutual Beneficial Cooperation |
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| 2004-11-30 23:44 |
Brief Introduction
The mutual beneficial cooperation between China and Sierra Leone dated back to 1981. The Agreement between The Republic of Sierra Leone and the People's Republic of China on the Promotion and Protection of Investments was signed in May, 2001. Since the strategy of ''Going Global” was initiated in 2000, the forms of the cooperation had changed significantly of which Chinese investments in Sierra Leone become the main content. Presently, there are four Chinese investments in Sierra Leone.
Projects in Operation
1. Bintumani Hotel
Bintumani Hotel covers a land of 11 acres, the total structure area is 2,000 square meters. The Beijing Urban Construction Group signed lease contract with the Government of Sierra Leone and the rehabilitation of the Hotel had been completed by December,2002. The Hotel had been put into operation in January, 2003.
2.Magabass Sugar Complex
Being the only sugar producing enterprise in Sierra Leone, Magabass Sugar Complex was originally established as assistance to Sierra Leone in the 80's of last century. The complex had the yearly output of 6,000 tons of sugar, which is the one fourth of the importation of Sierra Leone. The by-product of the complex was 500 tons of spirit. Ever since its establishment to the breakout of the civil conflict in 1990's, the Chinese Government was engaged in providing technical assistance to the complex. After the official termination of the civil conflict in 2002, a lease contract on Magabass Sugar Complex was signed between the Government of Sierra Leone and China National Complete Plant Import & Export Corporation (Group) on January 23, 2003.
The project, which comprises a sugar cane farm and a sugar mill, is under restoration and operation currently. Up to now, the plantation of sugar cane and maintenance of machinery are going on smoothly. Equipments and parts of the living materials ordered from China have arrived in succession. It's estimated that the production of sugar would commence in early 2005.
3．Guoji-Sierra Leone Investment Co. Ltd
Henan Guoji Industry and Development Co. is the subsidiary of Henan Guoji Group. The delegation of the group visited Sierra Leone and Signed a MOU with Sierra Leonene Government on constructing an industrial and Trade Zone in February, 2003. In September, the two parties reached an agreement for actual investment. In its plan, the industrial and Trade Zone contains three areas: processing zone, bonded warehouses and exhibition center. 15 or more Chinese factories will be located in the Zone. The official opening ceremony of the Zone will be held in Febuary,2005.
4. Tractors Assembly Factory
Situated at former brick factory in eastern part of Freetown, the factory was registered in June, 2004 with an estimated investment of more than USD 200,000.
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Bilateral Visits