Businesses from Portugal and China sign agreement for projects in Portuguese-speaking countries

Public Companies from Portugal and China on Wednesday in Lisbon signed a memorandum of understanding for the development of transport infrastructure, roads and railways, in Portuguese-speaking countries, which may also include Brazil.

The protocol, signed at the premises of the Portuguese Agency for Foreign Trade and Investment (AICEP) between IP Engenharia/Grupo Infra-estruturas de Portugal and the China Tiesiju Civil Engineering Group/China Railway Engineering Corporation, will intervene in Angola, Mozambique, Cabo Verde (Cape Verde), São Tomé and Príncipe and Guinea-Bissau, in the projects “that each country will most need to develop and stimulate the local economy.”

The vice-president of China Tiesiju Civil Engineering Group/China Railway Engineering Corporation, Shao Gang, said that a joint commission of Portuguese and Chinese companies will meet in January next year to draw up a timetable for the implementation of the partnership agreement.

Shao Gang also mentioned the possibility of governments of African countries in a weak financial situation making use of “loans” granted by China, “in advantageous conditions,” but pointed out that “these situations will have to be approved” by the governments of Portugal and China.

The Chinese public company also signed a similar protocol with construction company Teixeira Duarte, in a ceremony also attended by China’s ambassador to Portugal, Cai Run, and the president of the AICEP, Luis Castro Henriques, according to Portuguese news agency Lusa. (macauhub)