Since last week's coup, in which military leaders detained Niger's President Mohamed Bazoum and established a military government, China says it isChina's total foreign direct investment into Niger stood at $2.68 billion as at the end of 2020, according to the U.S. Embassy in Niger.
As part of the deal, PetroChina invested in the construction of the SORAZ refinery, located 460km away in the southern city of Zinder, near the border with Nigeria. PetroChina holds a 60% stake in the refinery, which has a capacity of 20,000 barrels per day and mostly supplies the Nigerien domestic fuel market. The remaining share is held by the Nigerien government.
The pipeline investment is twinned with a second phase of development of the Agadem field. Taken together, total investment into the pipeline and second phase development is expected to reach $4 billion, according to China's Ministry of Commerce. CNNC owns 37.2% of the project, with a further 24.8% owned by Chinese investment entity ZXJOY Invest, according to a 2010 filing with the Hong Kong Stock Exchange.