Gabon signs a number of contracts with India and Singapore

17 August 2010

India and Singapore have signed a number of contracts with Gabon to the value of 4.5 billion Dollars for several infrastructure projects, as President Ali Bongo announced this weekend.

These investments relate to highway infrastructures with “1,000 of roads, the creation of a special economic zone at Nkok, dedicated mainly to timber industries, and palm cultivation at Mouila and Tchibanga.

Another project likewise relates to the creation of 5,000 social accommodation facilities, according to a press release from the France Presse agency.

These projects should allow for the creation of more than 50,000 jobs, directly and indirectly, in the course of completion.

This announcement comes as the celebrations approach to mark the fiftieth anniversary of the country’s independence.

This is not the first time that Gabon has attracted investors from Asia, but they have generally been interested in the country’s natural resources. Thanks to the new investments, Gabon can accordingly hope to reduce its dependence on petroleum.

Category: General