DRC to invite $270m infrastructure bids

Posted On Wednesday, 24 March 2004 02:00 Published by eProp Commercial Property News
Rate this item
(0 votes)

The Democratic Republic of Congo will invite tenders worth $270-million in April, kicking off a massive donor-funded programme to rebuild its war-shattered infrastructure, officials said on Friday.

Alexis Thambwe Mwamba

In December, World Bank donors pledged at least $3,9-billion to the country for the period 2004-06, with 70% of it earmarked for transport projects.

Public Works and Infrastructure Minister Jose Endundo told an investment conference in South Africa that the continent's third-biggest country was looking for foreign companies to help rebuild a road network ravaged by war and decades of neglect.

He said more than 90% of Congo's traffic took place on its rivers and the country badly needed to improve its roads and railway network.

Planning Minister Alexis Thambwe Mwamba told the forum Congo wanted to rehabilitate 4 000 km (2 500 miles) of roads and build new ones connecting the more developed western part with the east – scene of a five-year civil war that ended last April.

Endundo said a joint government–World Bank body, Copirep, was carrying out a study on the possible privatisation of all State-owned companies involving airports, trains, communications, railways and ports.

He said the study would be completed within three to four months and then implemented immediately.

"We would also like to establish a stock exchange hopefully by next year," he said. – Reuters

Last modified on Thursday, 17 April 2014 08:43

Please publish modules in offcanvas position.