Taiwan funds building of new market in Sao Tome’s capital

12 July 2007

Sao Tome, Sao Tome and Principe, 12 July – The capital of Sao Tome has had a new market since Wednesday in a project valued at US$ 2.4 million and funded by Taiwan.

The new market, built from scratch in the center of Sao Tome city, has space for around 1,300 traders and sells a wide variety of products. The building is divided into over 80 stores, 120 counters, 110 banks and a car park.

Built by Sao Tome firm Setercop under a contact with the Public Works Ministry, the new market replaces the antiquated “Feira do Ponto” market, which fell short of the archipelago’s improving infrastructure standards.

President Fradique de Menezes opened the new market during commemorations of the islands’ 32nd anniversary of independence from Portugal on 12 July, 1975.

Besides assisting in the building of Sao Tome’s infrastructures, Taiwan has also invested in the islands’ sectors of health, education and agriculture through technical assistance, equipment donation and financial support. (macauhub)