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Chinese companies to invest up to $7 billion in Congo mining infrastructure

Chinese companies to invest up to $7 billion in Congo mining infrastructure

Chinese construction companies will invest up to $7 billion in infrastructure projects as part of an agreement over their Sicomines copper and cobalt joint venture in the Democratic Republic of Congo, they said. Both parties agreed to maintain the current structure of the shareholding, while the Chinese partners, Sinohydro Corp (SINOH.UL) and China Railway Group Limited, will pay 1.2% of royalties annually to Congo, according to a statement. President Felix Tshisekedi's government had been revisiting the deal struck by his predecessor Joseph Kabila under which the Chinese partners agreed to build roads and hospitals in exchange for a 68% stake…
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