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CONAKRY, Guinea -- Guinea's president has annulled a major contract signed with a French company by a previous leader.
President Alpha Conde announced on state television late Tuesday that his government was terminating the 25-year contract with Getma International to operate Conakry's container terminal.
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Conde says he's going to review all contracts that are "not beneficial" for the West African nation. But critics say it's a move to instead award those contracts to his allies.
The French company says it already has invested more than euro27 million ($37.6 million) in the project.
Guinea is the world's largest producer of bauxite, the raw material used to make aluminum.
Conde won a November vote to become Guinea's first democratically elected leader ever.