On July 24th, Sinochem Corporation signed an MOU on the strategic partnership with China-Africa Development Fund (CADFund) in the Chemsunny World Trade Center. Pan Zhengyi, Vice President, Sinochem and Chi Jianxin, President, CADFund signed the MOU on behalf of their respective organization.

According to the MOU, CADFund will tap its good relations with African governments and international financial institutions and the extensive business network with the Chinese and African companies to provide Sinochem with the information on the local politics, economics, commercial climate, regulations on the investment and the various projects, to provide us with business consulting services and to develop collaborations in agricultural, energy and chemical areas.

As one of the eight key measures in Africa announced by President Hu Jintao at Beijing Summit of the Forum on China-Africa Cooperation, CADFund is China’s by far largest Private Equity fund formed by China Development Bank. It also boasts as the world’s largest single fund dedicated to the investments in Africa. Its investees mainly include the Chinese companies with operations in Africa and its focus areas are closely relevant to Sinochem’s major businesses.