Chinese consortium to invest in road modernization project in DR Congo

Photo taken on Jan. 19, 2022 shows a stadium in Goma, the Democratic Republic of the Congo (DRC). (Photo by Zanem Nety Zaidi/Xinhua)

A subsidiary of Chinese logistics firm Jiayou International Logistics Co., Ltd. (Jiayou International, 603871.SH) plans to jointly invest in, construct and operate the Kambululu-Dilolo road and Dilolo land port modernization project in the Democratic Republic of the Congo (DRC) with a subsidiary of Chinese mining giant Zijin Mining Group Co., Ltd. (601899.SH) by forming a consortium, reported Shanghai Securities News Monday quoting Jiayou International.

The infrastructure and public works arm of DRC has granted a 30-year project concession to the consortium.

The total investment of the project is 363 million U.S. dollars.