Chinese firms plan Sh100b complex in South Africa

South Africa President Cyril Ramaphosa at a past event in Durban. [File, Standard]

Chinese investors signed agreements to build a Sh 100 billion metallurgical complex in South Africa during President Xi Jinping’s state visit this week and hope to start construction next year, an executive involved in the project and a provincial official told Reuters.

South Africa’s President Cyril Ramaphosa said at a joint news conference with Xi on Tuesday that China had committed to invest Sh147 billion in the South African economy.