China’s contract to build social housing in São Tomé and Príncipe will be signed in November/December

8 October 2019

The contract with the Government of China to begin construction of social housing in São Tomé and Príncipe and the restoration of the São Tomé waterfront road, a project involving the European Investment Bank and the Government of the Netherlands, is due to be signed in November or December, the Minister of Public Works and Natural Resources said recently.

In addition to announcing the launch of an international public tender for the construction of a “sufficiently deep water” port in the Fernão Dias area for this year, Minister Osvaldo d’Abreu also announced the construction of three bridges, which are in ruins and in imminent danger of falling, a project costing an estimated 1.3 million euros.

The minister, quoted by the STP-Press news agency, also announced that the São Tomé and Príncipe Government has set up a team to “deal with the issue of joint oil exploration” in an overlap zone with Equatorial Guinea.

Osvaldo d’Abreu also said that the team will be led by the National Oil Agency, through its director Olegário Tiny and includes Carlos Gomes, former executive director of the Joint Oil Exploration Authority with Nigeria, Carlos Neves, former deputy president of Parliament and Afonso Varela, former Minister of the Presidency and Parliamentary Affairs.

“This team has well-defined objectives for what we want to achieve in this project with Equatorial Guinea,” said Minister Osvaldo d ‘Abreu.

Asked about the existence of oil in the two blocks shared with Equatorial Guinea, Osvaldo d’Abreu, citing seismic studies already carried out, replied that “there are indications of structures likely to accumulate hydrocarbons that are at the border line between the two states.” (Macauhub)