China and Algeria Sign USD 3.3 Billion Port Deal
- Business & Finance
China and Algeria have signed a USD 3.3 billion agreement to build a new center transshipment port at Cherchell, Algiers, Xinhua reported.
Located some 60 km west of the capital Algiers, the expanded Cherchell port will be able to handle 6.5 million 20-foot containers and 26 million tons of goods per year.
The contract, signed on January 17 between the representatives of the China Harbour Engineering Company (CHEC), China State Construction Engineering Corporation (CSCEC) and the director in charge of ports at the Algerian Transport Ministry, will see the establishment of a consortium company which will focus on the port construction project, expected to be completed in two phases over seven years.
Relevant authorities expect that the new company will be created in March 2016.
The new port with 23 docks will boost Algeria’s port traffic, which is expected to hit 35 million tons or two million 20-foot containers per year by 2050 in the country’s central region.
The port will cover an area of some 2000 hectares of Algiers’ sheltered natural bay where water depths reach 20 meters.
World Maritime News Staff