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Angola grants US$631-mln in projects to Chinese firms

The Government of Angola has this month awarded 15 projects worth a total of US$631 million to Chinese firms under a new credit line provided by China, Portuguese news agency Lusa reported on Tuesday.

The presidential orders dated June 14, and cited by the news agency, show the public works include the building of a new water supply system in Cabinda, as well as construction and repair work for roads and highways across the African nation.

China agreed last year to offer Angola a US$5.2-billion credit line for 155 projects in the African nation, creating about 365,000 jobs, Lusa has reported.

The Angolan Government has so far awarded a total of 69 projects worth US$3.79 billion to Chinese companies under the new credit line, with most money going to the energy and water sector, the news agency said.