South Korea Will Join $750 Million Congolese Deal (Update1)
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By Sungwoo Park
March 4 (Bloomberg) -- State-owned Korea Water Resources Corp. will take part in a $750 million project to develop water and mineral resources in the Democratic Republic of Congo.
Korea Water and other Korean companies will build dams and other infrastructure, partner Alfonso Rowemberg Korea said in an e-mailed statement today. The Central African nation will in turn provide resources including 430,000 metric tons of copper, 21,500 tons of cobalt and 2,000 tons of uranium a year.
Paris-based Alfonso Rowemberg and Congolese mining company George Forrest International Africa will form two ventures for the project, the statement said.
Korea Water has a preliminary agreement for investments worth about $700 million in Congo, though details haven’t been decided yet, Kim Song-il, the Daejoen-based company’s African investment project manager, said in an interview.
“My company is very well experienced in the water sector,” Kim said by phone from Seoul. “We are looking for opportunities in any country in Africa.”
Korea Resources Corp., the state-run minerals explorer, will also join the deal by providing resources developing technology, according to the Alfonso Rowemberg statement.
MoneyToday reported the agreement earlier today.
Forrest spokesman Henry de Harenne confirmed there was an agreement, though he couldn’t provide more details. The company will issue a statement later this week, he said by phone from Brussels.
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die hintermänner könnten sogar die koreaner sein ...
An der Börse sind 2 mal 2 niemals 4, sondern 5 minus 1.
Man muß nur die Nerven haben, das minus 1 auszuhalten.