Cameroon to Pay 50 mln USD in Compensation for Kribi Port Residents 2010-11-25 16:16:48 Xinhua Web Editor: Yu
The people settled around the proposed site for construction of the deep water Kribi port in Cameroon will receive a compensation valued at 24 billion FCFA (50 million U. S. dollars), according to the authorities. Audio ? Ireland Unveils Harsh Austerity Plan to Cut 15 Billion Euros ? China-The Second-Largest Job Market for New High-Level Employees
The people settled around the proposed site for construction of the deep water Kribi port in Cameroon will receive a compensation valued at 24 billion FCFA (50 million U. S. dollars), according to the authorities.
Project director Louis Nlend Banack on Wednesday announced that 3 billion FCFA was available to compensate the inhabitants of the first construction site.
He said the commencement of the process to pay the concerned citizens will start once President Paul Biya gives it a legal backing after signing a decree.
The Kribi deep water port in southern Cameroon will be constructed on a 26,000 acres piece of land. It will have an industrial complex with four terminals as well as a mineral wharf for exporting iron.
According to the construction timetable, the general excavation works are expected to begin in December.
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