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FINANCIAL NEWS
UAE to invest USD19b for infrastructure projects in West Africa
10 Sep 2014
(MENAFN) West African Economic & monetary Union confirmed that UAE’s investments in West African countries hit a total of USD19 billion in infrastructure projects, Arabian Business.
The projects cover roads, railways, bridges, checkpoints, dry-ports, airports, energy, and food security and water and will benefit eight member countries of the UEMOA (West Africa Economic & Monetary Union).
The largest project was with Trojan General Contracting, part of Royal Group, which is owned by HH Sheikh Tahnoon Bin Zayed Al Nahyan, and Earth Capital, which together spent a total of USD16 billion for railway and road sector projects across the region.
Essar Projects worth USD1.98bn on road, bridge, airport and thermal power-plant projects in Benin, Guinea Bissau and Niger, while USD700 million was committed by Oman’s Hasan Juma Backer Trading and Contracting for a dry-port development project in Cote d’Ivoire.
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