CHEC the Kribi Deep-Water Port EPC Contract in Cameroon February...

CHEC the Kribi Deep-Water Port EPC Contract in Cameroon
February 14, 2011

Recently, under the witness of Chinese Vice Premier Hui Liangyu and Cameroonian Prime Minister S.E. Phil?mon as well as other high-level officials from both parties, Mr. Li Ruogu, president of China Export-Import Bank, has signed with the Cameroonian Government a loan framework agreement on providing preferential buyer's credit loans to two Cameroonian construction projects, including the Kribi Deep-Water Port Project to be implemented by CHEC.

The contractual value of the Kribi deep-water port project in Cameroon totals U.S.D 497 million, The signing of the loan agreement indicates that the EPC. Commercial contract signed on December 8th, 2009 has formally come into effect, and symbolizes that CHEC has entered the Cameroonian market for the first time, which is a new breakthrough in exploring the African market.

The construction projects mainly include a breakwater project at the south side of the terminal, one berth for 50,000-tonnage container ships as well as one 40,000-tonnage multi-purpose terminal, with a construction duration of three years.