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Wednesday, 3 September 2008

From MFEZs to satellite towns?

In the first project of its kind, China International Trust and Investment Corporation (CITIC) has started the construction of a modern satellite town valued at $3.5bn billion in Angola. The town is being built in the rural outskirts of Luanda with a projected population of over 200,000. The project will complete in 2011, comprising of 710 apartment buildings with over 20,000 apartments, 246 shops of various kinds, 24 kindergartens, 17 primary and middle schools as well as power transformer stations, water supply stations, sewerage treatment plants and other related infrastructures. The employment impacts are assumed at 10,000.

The project represents an interesting departure from previous chinese led projects on this scale, which have focused on multi-facility economic zones (MFEZs).

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