Tag Archives: SFECO Group

Eritrea Continues Import of Modern Buses, Heavy Trucks and Machinery

By TesfaNews,

Chinese construction equipment manufacturer LiuGong has successfully delivered its latest procurement to the State of Eritrea through Masswa port and this time with 197 new and modern buses, fire trucks, cargo trucks, cranes, dozers, fuel and water tankers.

The LiuGong brand luxury buses are getting the preferred brand for urban public transport system in Asmara while the 60 seater LiuGong and TATA buses would render transport services in rural areas. Continue reading Eritrea Continues Import of Modern Buses, Heavy Trucks and Machinery

SFECO Group Advancing Development of the Zara Mine

Zara Mine: 800 cubic meters thick pool, adsorption columns, thickener, ball mill foundation, leach tank

By TesfaNews,

CHINESE investment group SFECO this week announced that mine construction work at the Zara gold project in Eritrea entered a smooth 200 days.

In comparison to the Bisha mine, the Zara Gold project is found in a mountainous terrain with some unfavorable natural factors. However, the company said it achieved to complete the fundamental structures needed for the main plant.

Zara gold project is operated by the Zara Mining Share Company (ZMSC), a joint venture company established between China SFECO Group (60%) and the Eritrean National Mining Corporation ENAMCO (40%).  Continue reading SFECO Group Advancing Development of the Zara Mine

SFECO Building US$100m Agriculture Related Plants in Eritrea

SFECO delivery at Massawa port

BY TESFANEWS

China SFECO group, a subsidiary of Shanghai Construction Group Co. Ltd., held a groundbreaking ceremony in Eritrea to undertake different agriculture-related plants worth US$ 100 million.

The massive Engineering, Procurement, and Construction project will constitute the construction of three cold food storages in three different sites; an aluminum can manufacturing plant, and a high-quality PVC agriculture drip irrigation pipe production line. Continue reading SFECO Building US$100m Agriculture Related Plants in Eritrea

Chalice Sold Zara Gold Project to SFECO and ENAMCO for US$114M

Net cash balance of $82 million after tax with a focus on acquiring new projects

Chalice Gold turned Red after selling its lucrative Zara Gold Deposit in Eritrea to China

By Chalice Gold Mines,

Chalice Gold Mines Limited (ASX: CHN/TSX: CXN) is pleased to announce that it has today completed the sale of the Zara Gold Project in Eritrea to China SFECO Group for US$78 million plus a deferred payment of US$2 million upon commencement of commercial production at the Koka Gold Mine.

In addition, the Eritrean National Mining Corporation (“ENAMCO”) has settled the remaining balance of US$29 million for its acquisition of a 30 per cent interest in the Zara Project Continue reading Chalice Sold Zara Gold Project to SFECO and ENAMCO for US$114M

SFECO Group Won Machinery Supply and Power Plant Extension Contracts

SFECO Group is one of the six massively investing Chinese companies in Eritrea

BY TESFANEWS

The increasingly aggressive Chinese investment group in Eritrea, SFECO, again won the second phase of supplying various machinery and equipment worth 61.54 million USD.

It also won another multi-million dollar EPC contract for Hirgigo Power Plant  2*23MW Extension project.

Eritrea’s ambassador to China, Mr. Tsegai Tesfazion and Vice-President of China SFECO Group, Mr. Zheng Yufeng signed the contract last week, in Beijing on behalf of the two sides.  Continue reading SFECO Group Won Machinery Supply and Power Plant Extension Contracts