On the Chinese deal

2011-03-05 18:43

According to Ajay Gupta, they decided two years ago to develop an infrastructure project through attracting foreign direct investment to South Africa.

They approached the China Railway Construction Company, which was doing lots of work in Nigeria at the time.
Lazarus Zim contacted them and a memorandum of understanding was signed during Zuma’s official state visit to China last year.

Ajay stresses that South Africa’s ambassador to China requested them to sign the deal during the visit and that 33 other agreements were also signed by other companies on the trip.

“It’s very clear – we’re not looking to state enterprises, we’re not looking to the government. We are looking at foreign direct investment that can put in infrastructure in this country, and we can work together with our speciality.”

Asked about speculation that they would partner with the Chinese company to build Transnet’s planned Johannesburg-Durban speed train, Ajay says he “didn’t even know about that (project)”.

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