Under the license, the company, an affiliate of the Xuan Thanh Economic Group, will manufacture first commercial cement products in 2015 and generate power in 2018.
Cameroon is one of the company’s 54 African markets in is development strategy to expand investment in hydro power, cement production, and mineral ore exploitation on this continent.
With a population of nearly 1 billion and rich mineral ores, Africa has a great demand for power and cement to meet its rapid development in the coming years.
Doan Trinh, a CEO of Xuan Thien Ninh Binh, explains the company has a wealth of experience in developing hydro power and cement, and Cameroon is its primary investment target in Africa.
Cameroon has the second largest African hydro power development potential after the Democratic Republic of Congo. The country is in dire need of power generation to feed its population and industrial production, but it currently meets only 16% of its demand.
The company is conducting other market surveys in Central and Northern Africa.
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