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In South Africa China to loan power firm Eskom $500M

China will also help to build a car manufacturing plant on South Africa's coast which should begin exporting vehicles to other African countries by the end of 2017.

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Electricity pylons in Johannesburg's Alexandra township stand against the skyline of the city's Sandton business district in this file photo. REUTERS/Mike Hutchings/Files play Electricity pylons in Johannesburg's Alexandra township stand against the skyline of the city's Sandton business district in this file photo. REUTERS/Mike Hutchings/Files (Reuters)

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China will loan South Africa's struggling power utility $500 million as part of deals agreed on Wednesday between the two countries worth 94 billion rand ($6.5 billion), the South African government said.

China will also help to build a car manufacturing plant on South Africa's coast which should begin exporting vehicles to other African countries by the end of 2017.

($1 = 14.39 rand)

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