Anhui Foreign Economic Construction Group
|Industry||Civil engineering, mining|
Anhui Foreign Economic Construction Group (AFECC) is a Chinese construction and mining company with an international focus that includes 14 overseas subsidiaries in Asia, Europe, Africa, the Caribbean, and Pacific Islands. Based on the value of 2011 deals, the company ranks among the top 225 contractors in terms of international projects.
The company develops diamond mines in the DRC and Zimbabwe. In the DRC, the company entered into a 50-50 joint venture agreement with the government to develop a mine in eastern Kasai that could produce 6 million carats by 2016. The terms of the agreement were publicly revealed in March 2013 and specified that the company would contribute $4.2 million in equity, provide a signing bonus of $61 million, and invest in various infrastructure projects amounting to $100 million throughout the country. The planned infrastructure projects include the construction of a 4.6- megawatt hydropower plant near Tshibwe; a new building for the national diamond regulator; and assistance in bringing a loan from the Chinese government to fund a 15-megawatt hydroelectric plant at Tubi Tubidi and a road from the plant to Mbuji-Mayi.
In its charitable giving, the company contributed $1.5 million towards a week long phase of a medical mission called the "Brightness Trip", in which a medical team visiting the hospitals of Malawi treated patients with cataract conditions.
- "Corporation Information". Anhui Foreign Economic Construction Group. Archived from the original on 2013-12-19. Retrieved 2013-09-22.
- "The Top 225 International Contractors". Engineering News Record. Retrieved 2013-09-22.
- "Anhui Construction, Congo Plan to Take Diamond Company Public". Bloomberg. Mar 28, 2013.
- Yu, Guanghua (2013). Rethinking Law and Development: The Chinese experience. Routledge. p. 230. ISBN 9780415640367.