Central African Republic woos Indian investmentMarch 19th, 2012 - 9:40 pm ICT by IANS
New Delhi, March 19 (IANS) The Central African Republic Monday sought Indian investment in the country’s road, rail, hydro-power and uranium mining projects.
“Being a landlocked country, Central African Republic requires transportation network which includes train, road and air networks. We are here to invite Indian companies to look at opportunities in developing these infrastructure,” said Anicet Parfait Mbay, transport minister.
Addressing the eighth India-Africa Project Partnership Summit being held here, Mbay said his country urgently required investments for developing its road and highways network around major cities and mining centres like Bangui, Mbaiki and Dimboti.
“Raw material like ores and mining industry cannot flourish if we do not have an efficient transport system to move these minerals out of mines and into factories.”
Indian industry representatives said that the African country would attract substantial investment if it opened the road development sector by allowing toll collection.
“In India, we have a gestation period of 20 years in terms of toll collection on the highways which have been developed by the private sector. If Central African Republic comes out with a feasibility study that suggests a lesser time frame then certainly Indian companies would be interested,” said K.S. Ashwatnarayan, chief executive, Jaguar Overseas.
The Central African Republic also invited Indian companies to set up hydro-power projects in the country.
“We currently have 37 identified sites for development of dams for electricity generation. Out of this only two sites have been taken up. There is an enormous potential for cooperation in this sector,” said Leopold Mboli Fatran, energy and hydraulics minister.
Low-cost housing and mining, especially uranium mining, are the other key areas for potential Indian investment.
The country has 20,000 tonnes of uranium deposits. India is looking to access uranium from Africa and other regions to meet its growing energy needs.
The Central African Republic is the guest country at the Summit. Since 2005, the annual conclave has been serving as a platform for Indian and African government agencies and corporates to forge long-term project partnerships.
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Tags: africa project, air networks, development sector, efficient transport, electricity generation, feasibility study, gestation period, highways network, hydro power projects, indian investment, industry representatives, landlocked country, low cost housing, partnership summit, project partnership, substantial investment, transport minister, transportation network, uranium deposits, uranium mining