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China, Guinea Sign 170 Million Yuan of Agreements, Yang Says

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Feb. 14 (Bloomberg) -- Guinea and China signed two cooperation agreements worth 170 million yuan ($26 million), Chinese Foreign Minister Yang Jiechi said, without giving details of the projects.

“China is ready to strengthen the economic and commercial cooperation with Guinea,” Yang said today in the capital, Conakry. China will encourage its companies to enter Guinea, to invest in infrastructure, electricity and agriculture, he said.

President Alpha Conde invited China to build a hydroelectric power plant and a thermal power plant in the West African nation.

Separately, Conde said the nation was in talks with an unspecified Chinese company to build a bauxite operation in the country. Guinea holds as much as half of the world’s reserves of bauxite, a raw material used in aluminum production.

“Guinea is negotiating with a Chinese company to carry out a bauxite alumina project with annual production capacity of 4 million tons,” Conde said.

To contact the reporter on this story: Ougna Camara in Conakry via Accra at ebowers1@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net

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