Wednesday, January 20, 2016

China and Algeria to build $3.3B mega port





Algeria and China signed a $3.3 billion deal on Sunday to build a new center transshipment port in Cherchell, a seaside town in the province of Tipaza, Algeria.

The agreement was signed by officials from Algeria's Transport Ministry, China Harbour Engineering Company (CHEC) and China State Construction Engineering Corporation (CSCEC).

Under the deal, the two sides will create a consortium company to build the port, which will lie 55 miles west of capital city Algiers. The company is expected to be finalized in March 2016, with approval from the Council of State Shareholdings.

The mega port will feature 23 docks capable of processing 6.5 million TEUs and 26 million tons of goods per year.

According to forecasts by Algeria's Transport Ministry, port traffic in the country's central region

is expected to hit 35 million tons or two million TEUs per-year by 2050.

The project is planned to be completed within seven years, and gradually put into service within four years with China's Shanghai Ports Group managing the port.

Bringing in Shanghai Port Group "would help driving international shipment traffic coming from Southeast Asia and other continents to pass from this Center Port, under transshipment process to continue sea transport to elsewhere, or use the Algerian highway and railway networks to carry shipments to Africa," said Algerian Transport Minister Boudjemaa Talai.

Wen Jingfei, CHEC representative at the signing ceremony, told Xinhua that this project is important for the whole Mediterranean region and Africa.

For more of the Xinhua story: news.xinhuanet.com


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