Korean company wants to invest billions in South Sudan infrastructure
A South Korean international company has expressed its willingness to invest with up to $1.8 billion US dollars worth of development projects in Southern Sudan.
A visiting delegation from the company called Make Group, headed by the Company Chairman, James Juhee Han, on Monday met with the Vice President of the semi-autonomous region, Dr. Riek Machar, where they declared their readiness to invest in infrastructural projects including housing, roads network, telecommunications and energy, among others.
Han told the Vice President that his Company had already invested in many countries in Africa and was determined to start investing in Southern Sudan irrespective of the outcome of the referendum. “Whether the South votes for unity or secession, it is none of my business…I love this country and I have to do whatever I can to help develop it quickly,” he said.
He also discussed with the Vice President the idea of investing in oil pipelines either to Port Mombassa of Kenya and another one to Djibouti through Ethiopia. Machar expressed the need for economic cooperation between Southern Sudan and South Korea, and suggested the necessity to open mission offices by the two governments in their respective countries to boost such cooperation.
He appreciated the decision by the company and referred the delegation to the respective ministries to discuss with them details of areas of priority projects.
The semi-autonomous region has since 2005 embarked on attracting private investors to assist in taking up the challenge of developing the war-torn region. However, observers say many potential investors have shied away and taken a wait-and-see attitude until the time when the future of the country is determined in the upcoming January 2011 referendum.
(ST)
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