Kribi deep water port to have “the best channel on the West-African coast”
Add new comment Friday, 07 February 2014 22:34 (Business in Cameroon) - According to a report by the Cameroonian Minister of Finance on the evaluation of construction underway at the Kribi industrial port, “its channel has a depth of 15.5 metres which is the best on the West-African coast, accommodating ships with a 16 metre draught.” In the report dated December 30, 2013, experts who met at the site explained that “due to its geographical position and its technical features, the Kribi deep water port could be the ideal port” in Central and West Africa. Built by China Harbour Engineering Company (CHEC), and financed primarily by Eximbank of China, the port’s construction follows the building of a railway of over 300km which will enable the removal of mineral material from the eastern region of the country. Based on the evaluation carried out by the project’s steering committee in late January 2014, almost 86% of the first phase of construction has been completed. Officially, the first ship is expected in 4 months, despite the pessimism of many about the deadline being met.
SDL Price at posting:
9.9¢ Sentiment: LT Buy Disclosure: Held