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Chinese firm to invest US$300 mln in Guinea-Bissau

Chinese company Fujian Shihai Corporation is planning to invest US$300 million in two development projects in Guinea-Bissau, the Governor of the country’s Biombo region, Humberto Có, announced on Monday.

Mr Có said – as quoted by Angolan news agency Angop – the Chinese firm plans to develop a fishing complex and a five-star hotel in Suru, in the region’s Prabis sector.

Fujian Shihai Corporation’s representative Yang Ming said – as quoted by Angop – the Chinese company is planning to develop “several projects” in Guinea-Bissau. He added China is interested in helping the African nation’s authorities to develop the country’s potential.

According to Biombo’s Governor, the Chinese firm said construction work would start soon.

Mr Có promised to give support to the two development projects. He noted they are expected to generate 3,000 local jobs.