The unit of China’s largest government-owned investment firm, State Development & Investment Corp (SDIC), has signed a memorandum of understanding to set up ethanol projects in various African countries.
In a statement to the Hong Kong Stock Exchange this week, Hua Lien says it is planning to establish a joint venture for the investments with China-Africa Development Fund (CADFund), a $5bn fund created by Beijing in 2007 to promote business ties.
China’s
