China will today formally announce its largest investment in South Africa for two years, entrenching its position as the resource-rich continent’s most important economic and commercial partner.
The China Africa Development Fund and the Jidong Development Group will help build a new cement plant worth at least R1.5bn ($200m), the Financial Times has learned.
The announcement lays the ground for the planned August visit to Beijing by Jacob Zuma, South African president, who has made deepening economic and political ties with China a key foreign policy priority.
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