China and Algeria agree to build $3.3bn Cherchell megaport

Cherchell agreement 17-01Algeria and China yesterday signed a $3.3bn deal to build a new megaport at Cherchell, 60 km west of Algiers. The agreement was signed between Algeria’s Transport Ministry, China Harbour Engineering Company (CHEC) and China State Construction Engineering Corporation (CSCEC).
Under the terms of the deal, a consortium will be set up to build the facility which will have 23 docks capable of processing 6.5m 20-foot containers and 26m tons of goods per year.
The project is scheduled for completion within seven years and will be brought into service in stages over a four-year period. 
Speaking at the signing ceremony, CHEC representative Wen Jingfei said that the project was important not only for Algeria but for the whole of the Mediterranean region and Africa, particularly Algeria’s landlocked neighbour Mali.

Source: xinhuanet