Italian plantmaking company Danieli has recently signed an agreement with the government of Cameroon for the construction of a new steel plant in the region of Mbalam. The project is worth $35-40 million and will create hundreds of new jobs.
The new facility, which will have a capacity of 150,000 metric ton of billets per year, will be supplied with iron ore coming from the gigantic deposits located in the mountains of Mbalam. In order to ensure easier transport of iron ore, the government of Cameroon plans to build a 450-kilometer railway and to develop the port of Kriby.