CHEC Signs $600M Atuabo Port Deal
China Harbor Engineering Company (CHEC), a subsidiary of China Communications Construction Company Ltd (CCCC), has signed a contract to build a new port in Atuabo, Ghana.
This new port project includes construction of an 18.5 m deep channel and three quays with the varying depths (16.5 m, 12 m and 9 m). The project aims to provide general business and offshore logistics support for rigs and vessels working in regional gas, oil and cargo industries.
Construction is expected to start in the third quarter of this year and be completed in 25 months, said Philomena Kuzoe, the External Affairs Officer of Atuabo Free Port (AFP).
According to Xinhua, this capital development project, worth $600 million, is a joint venture with 10 percent free carry shareholding for the Government of Ghana and 35 percent shares to be owned by state owned enterprises (SOEs), while AFP will own the rest.
The Chinese Ambassador to Ghana Sun Baohong and other officials from China and the Ghana Investment Promotion Center attended the signing ceremony.