Algeria and China signed a USD3.3 billion deal to build and exploit a new center trans-shipment port of Cherchell, 55 miles west of the capital city of Algiers.
Bringing in Shanghai Port Group “would help driving international shipment traffic coming from the Southeast Asia and other continents to pass from this Center Port, under trans-shipment 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.
Algeria, an OPEC state, is seen as a crucial Mediterranean transit port that will provide services to North Africa and Europe.
The agreement was signed between Algeria’s Transport Ministry, China Harbour Engineering Company (CHEC) and China State Construction Engineering Corporation (CSCEC) in Algeria.
Under the deal inked, the two sides will create a consortium company, to be finalized in March, to build the port.
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 20-foot containers per year by 2050.
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