State-owned Sinohydro Group will increase its investment in African nations as the hydropower construction firm looks for further opportunities for growth, state media reported. The company did not release any financial details concerning potential investment targets, but said it was "conducting a series of projects in some African countries" which include a copper and cobalt mine in the Democratic Republic of Congo and one hydropower station in Mozambique and another one in Zambia. Ding Zhengguo, assistant president of overseas projects, said the company is also looking at opportunities in Liberia. Chinese companies involved in energy, commodities and infrastructure have been expanding investment growth on the African continent in recent years. Outbound direct investment hit US$1.44 billion last year, 55% higher than the previous year.