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Find all the economic and financial information on our Orishas Direct application to download on Play StoreMakeland has signed a memorandum of understanding with Bestway Finance Ltd and Austsino resources Group Ltd for the construction of a 540-kilometre-long railway to connect the locality of Mbalam, site of iron ore mining to connect the port of Kribi where it is planned to build a multimodal mineral port with a capacity of more than 100 million tons per year.
The eventual construction of a railway will bring a boost to the development of Cameroon. With a total cost of 5500 billion FCFA, about 10 billion dollars, the project is expected to generate more than 20,000 direct and related jobs. The start-up phase of the works scheduled for the end of 2021 should give way to the exploitation phase of the mining deposits in 2024 while the construction of an additional 1500 kilometers of railway is planned by 2030. The signing of this agreement follows the award on November 30, 2020 to Sangha Mining Development, of three industrial exploitation permits called "Avima", "Badoma" and "Nabeba" as well as the granting of three mining agreements to the said company for a period of 25 years. Financing mobilized by multilateral and bilateral financial partners, including China, whose work is being carried out by Austsino Resources Group Ltd.
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