NEWS

Cameroon agrees $158 mln car manufacturing deal

Monday, Jun 15, 2015

Cameroon said on Friday it has reached a 92 billion-CFA Franc ($158 million) agreement with an Indian and two Chinese firms to build two vehicle plants in Cameroon.

Car manufacturing is non-existent in Cameroon and rare elsewhere in Africa, where large numbers of second hand vehicles are imported from Europe.

"The group of Indian and Chinese investors plan to start in about three months the vehicle assembly workshops that will be in the towns of Douala and Kribi," said mines, industry and technological development minister Emmanuel Bonde.

The companies are India's Azad Coach, China's Yutong Group and GAC GONOW - a joint venture between Guangzhou Automobile Group Co Ltd and Zhejiang Gonow Holdings Group Co Ltd.

The first vehicles are due to be ready in 18 months.

The minister said the two new factories would produce vans, cars and jeeps, although it was not immediately clear if the vehicles would be made entirely in Cameroon.

 

reuters.com

Other News