|China and Zambia Sign Major Mining Deals|
|by Tom McGregor||Wed, Jun 18, 2014, 10:12 PM|
BEIJING: China signed major copper and coal mining deals with Zambia.
According to Channel NewsAsia, "Chinese Vice President Li Yuanchao kicked off a three-day visit to Zambia on Wednesday by signing development loan and grant agreements worth $64 million (47 million euros)."
China plans to rebuild the infrastructure of Zamiba by constructing new roads, schools and hospitals.
As reported by Channel NewsAsia, "Li and his Zambian counterpart Guy Scott signed a $32 million interest-free loan and a grant of similar value for economic and technical aid. Zambia will use the funds to improve its water reticulation system in rural areas, upgrade the country's only international airport in Lusaka and improve education facilities, among a raft of other projects."
China is expected to build a 1,860 miles railway line on the African continent.
To read the entire article from Channel NewsAsia, link here:
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