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Tuesday, 18 August 2009

Infrastructure for oil

China's Sinohydro Corporation has revealed that it has invested a staggering $2.4 billion to rebuild infrastructure in Angola since the end of the country's civil war in 2002. Among the areas includes new hospitals, irrigation canals for agriculture and other infrastructures aimed at improving the lives of ordinary Angolans. Around $1 billion of Sinohydro's total investment in Angola has been financed by the Export-Import Bank of China. Undoubtedly Angola's payment is oil. One hopes Jose is not putting all Angolan eggs in one Chinese basket.

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