www.chinaspv.com: Foton plans to invest ＄500 million in Cameroon for the construction of a vehicle factory, which will be put into production next year.
As revealed, a memo has been signed between Foton and the Cameroon government for a ＄500 million investment in Kribi, a city in the South West of Cameroon. The factory will be put into production in Jul. 2013 with the annul productivity of 5,000 trucks and minibuses, which will create 8,000 jobs for the local government.
According to the memo, domestic parts will be imported in the first stage and local materials will be used in the second stage.
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