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Another chance for Asia

Indian and South Korean companies are joining their Chinese counterparts in the rush for Congo’s resources.

As well as announcing new deals on mining and infrastructure development, Chinese companies are also moving into Congo’s much depleted agriculture sector. Palm oil is the attraction for Zhongxing Telecom (ZTE), a large Shenzhen-based corporation. In early November, it signed a partnership agreement with Kinshasa’s Minister of Agriculture, François Joseph Nzanga Mobutu, son of former dictator Mobutu Sese Seko. ZTE will invest US$600 million to refurbish 10,000 hectares of palm plantations and build refineries in Bas-Congo, Equateur and Orientale provinces. The aim is to employ 50,000 workers to produce biodiesel....

(This article contains approximately 547 words)

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