Business
Cameroon, China in joint venture to assemble environment-friendly vehicles
Cameroon and the local subsidiary of a Chinese manufacturer have signed a memorandum of understanding to set up a multi-million dollar plant for environment-friendly vehicles in the country.
The plant will be located in the seaside resort of Kribi in the South Region because the town has a deep sea port, hosts a range of other Chinese companies and is a gateway to other African markets, according to Mr David Yonguet, a director with Cameroon First Automobile Manufacture Company Limited, the local subsidiary.
The signing on Thursday comes after talks last October 24 between the CEO of China’s Funtian Automobile Industry Company, Mr Lu Fuquing, and Cameroon’s President Paul Biya.
The director-general of the local subsidiary, Mr Wu Kun Min, said the first fleet of cars will roll off the assembly line by mid-2013.
If the project is successful, it will be Cameroon’s first functional car assembly plant.
An assembly plant set up in 2011, also in the South Region, in partnership with an Indian firm is limited to farming equipment. It has however been beset with operational problems and had to be re-launched early this year.
A US$500 million joint venture between Cameroon and Chinese businessmen that was to begin assembling cars in the economic capital Douala by the end of 2010 failed to take off.
