Africa no 1 target for CCCC as $4 bn projects mount up

Africa has now become well-established as the single most important overseas market for the China Communications Construction Company (CCCC), China's largest infrastructure development business. In 2008, almost half of the company's $9.6 billion overseas revenue came from projects in Africa.

As of May this year, CCCC had secured 28 projects with a number of African nations, each worth more than $100 million apiece. With two of the deals - one in Angola and one in Libya - worth an estimated $1 billion each, it is small wonder that this is the third year that Africa has topped the list of CCCC's overseas markets.

Speaking of the company's success in Africa, Wang Xiaoguang, general manager of CCCC's overseas business department, says: "CCCC's business in Africa has grown by around 33 percent per annum in recent years. Fortunately, the plans already in place for infrastructure development in many African countries have remained unaffected by the current global financial downturn with much of the funding already in place through Chinese governmental loans."