Ayade Meets With Governor Of Shaanxi Province On Investment In Power, Solid Minerals, Calabar Carnival

In Breaking News, International News, National News, Opinion, Politics, Reports

By Our Correspondent

Governor Ben Ayade of Cross River state and Governor Hu Heping of Shaanxi Province, China displaying the agreement signed to bolster investments by Chinese business men in the Calabar Carnival, Power and Solid Minerals sectors in Cross River state yesterday in X’ian (Picture credit: CrossRiverWatch)

In continuation of his investment drive, governor Ben Ayade of Cross River state yesterday signed a partnership agreement with his counterpart in Shaanxi Province in China, Hu Heping, to bolster the injection of capital by Chinese business men into the Calabar Carnival, the Power and Solid Minerals sectors in Cross River state.

Shaanxi, is a province of the People’s Republic of China. Officially part of the Northwest China region, and lies in central China.

It covers an area of over 205,000 km2 (79,151 sq miles) with about 37 million people. 

The China-Africa Development Fund, CAD Fund, in May 2016, signed a cooperation agreement with Shaanxi government in the capital Xi’an, the first of its kind with a provincial-level partner that aims to boost more investment in the African market.

Hu Heping, governor of Shaanxi province, at the occasion said the agreement had great significance for companies in Shaanxi, pointing the way for them to go abroad and accelerate their steps into Africa.

According to the agreement, the two sides will establish Shaanxi Africa Industry Development Fund, which will help local companies in financing, project selection and loans for their businesses in Africa.

“As a province with traditional heavy industry, including energy development and manufacturing, Shaanxi has a good number of companies which have an advantage in mining, oil exploration and large-scale equipment manufacturing. All those sectors are needed in Africa,” Hu said at the occasion.

He added that the China Development Bank, together with CAD Fund which has nine years of experience in Africa-related investment, will help companies in Shaanxi gain more information and financial aid in their business expansion in Africa.

Chi Jianxin, chairman of the fund, said there were unprecedented opportunities in China-Africa cooperation at present and the thing that Africa needed the most was capital.

The bank allocated $3.2 billion in the CAD Fund for more than 80 projects, from infrastructure to agriculture to energy resources in 35 African countries including Nigeria.

By the end of 2016, the bank hit its target of pooling $5 billion to go into the fund, aiming at further diversifying financial vehicles that facilitate Chinese investment in Africa.

Governor Ayade said after the signing of the agreement that “It is the enormous opportunities that this fund avails Africa that Cross River state wants to tap into. We have the assurances of the governor and the people of Shaanxi that the favorable business climate in Cross River state will be utilized by Shaanxi investors.”

Since You Are Here, Support Good Journalism


CrossRiverWatch was founded on the ideals of deploying tech tools to report in an ethical manner, news, views and analysis with a narrative that ensures transparency in governance, a good society and an accountable democracy.

Everyone appreciates good journalism but it costs a lot of money. Nonetheless, it cannot be sacrificed on the altar of news commercialisation.

Consider making a modest contribution to support CrossRiverWatch's journalism of credibility and integrity in order to ensure that all have continuous free access to our noble endeavor.

CLICK HERE

New Feature: Don't miss any of our news again.Get all our articles in your facebook chat box.Click the Facebook Messenger Icon below to subscribe now

Text Advert by CRWatch :Place Yours

Will You To Learn How To Make Millions Of Naira Making Special Creams From Your Kitchen?.Click Here


Expose Your Business And Make More Sales. Advertise On CrossRiverWatch.com Today

You may also read!

#Calabar: Remains Of 117 Year Old Psychiatric Hospital After Historic Looting (PICTURES)

By Jonathan Ugbal While owners of public and private facilities as well as individuals count the losses suffered after

Read More...

#Calabar: Ayade Tours Media Houses, Confirms He Left Calabar During Violence

By Jonathan Ugbal Cross River Governor, Senator Ben Ayade has confirmed that he left the State capital, Calabar at

Read More...

BREAKING: Army Repel Militants Incursion Into Calabar As Ayade Extends Curfew

By Jonathan Ugbal Troops of the 13 Brigade of the Nigerian Army have repelled an attempt by militants to

Read More...

One commentOn Ayade Meets With Governor Of Shaanxi Province On Investment In Power, Solid Minerals, Calabar Carnival

  • Exception of others, please i do not like the idea of oil exploration in crs, we need to learn from all others nigeria state, pls i oppose this, nigeria government cannot handle enviromental degredation, let key in more on Agriculture.

Leave a reply:

Your email address will not be published.

Mobile Sliding Menu

Share this now