Crystal Ventures to invest US$200m in Congo Republic industrial park

[BRAZZAVILLE] A holding company controlled by Rwanda's ruling party plans to invest US$200 million towards the rehabilitation of a struggling industrial park in the Congo Republic, the firm's executive chairman said on Friday.

Crystal Ventures, the Rwandan Patriotic Front's investment arm, will commit US$200 million to infrastructure development at Congo's Maloukou industrial zone, about 37 miles from the capital Brazzaville, executive chairman Jack Kayonga said.

Congo's government has struggled to attract investors to the 25-square mile industrial site since it was commissioned in 2018. Its 16 factories, initially designed for manufacturing construction materials, have never been fully electrified.

"Once the agreement is signed, we will initially provide an investment of about US$100 million to secure the site, rehabilitate it and finalise the work of connecting the road, electricity, water and internet networks," Mr Kayonga told reporters after touring the site.

"Then we will make available funding of over 100 million dollars for the establishment of a dry port, the construction of the city and a training centre," he said, adding that Crystal Ventures hoped its efforts would attract additional investors.

Crystal Ventures is Rwanda's largest investment firm, with a portfolio ranging from dairy products to private security companies.

REUTERS