MOU for planning and development of the Petroleum Industrial City of Luba with China State Construction Engineering Corporation

During a historic visit to China the Government of Equatorial Guinea, represented by the Ministry of Mines, Industry and Energy, has announced the signing of multiple memoranda of understanding on April 30, 2015 with Chinese companies covering large areas of cooperation in the electricity and industrial sectors. The agreements were made during the Equatorial Guinea-Asia Economic Forum, hosted by the Government of Equatorial Guinea at the Shangri-La Hotel, in Dalian. The economic forum was organized in Dalian to introduce investment opportunities in Equatorial Guinea to Chinese companies. On April 30, 2015, the Government of Equatorial Guinea signed a Memorandum of Understanding (MOU) agreement with China State Construction Engineering Corporation to plan and develop the oil industry city of Luba. More than 1.6 million square meters are available for the city, consisting of a 950,000 square-meter port area, 536,000 square meters for an industrial zone and an administrative area of 150,000 square meters. A specific legal regime will govern activities in the zone. 1500 jobs are expected to be created for the construction of this deep-water port. Other memoranda of understanding signed on April 30, 2015 include: #52982- MOU with China Dalian International Cooperation Group for feasibility study of Mbini Industrial Zone #52984- MOU with SinoHydro for feasibility study on the construction of a hydroelectric power plant on the Wele River #52985- MOU with China National Machinery Engineering Co., Ltd. for technical studies for the construction of an interconnected grid in CEMAC region #52986- MOU with China National Machinery Engineering Co., Ltd. for technical and financial feasibility studies for the construction of a combined cycle 100 MW power plant in Kogo #52987- MOU with China National Machinery Engineering Co., Ltd. for feasibility studies for construction of street lamps in Mbini Industrial City

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