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CRBC means to spend US$3 bln on new waterfront for Luanda

China Road and Bridge Corp. (CRBC) intends to invest US$3 billion in developing the Marginal da Corimba waterfront, which will stretch southward from Luanda, Angop reports, citing a representative of the Angolan subsidiary of the Chinese state-owned contractor.

The Angolan state-run news agency quotes the representative, Yuan Chunkun, as saying last week that CRBC is studying the feasibility of the project before it starts negotiations with the Angolan government in January.

Mr Yuan said the project would use 40 hectares of underexploited land and reclaim another 215 hectares from the sea for public facilities, offices, housing, schools, hotels, and facilities for recreation, entertainment, cultural activities and sport.

The work will take 13 years, beginning in January 2023, Angop quotes Mr Yuan as saying.