São Tomé e Príncipe, 13 October 2015,-/African Media Agency (AMA)/- The Government of the Democratic Republic of São Tomé e Príncipe and China Harbour Engineering Company Ltd., successfully concluded discussions and signed a Memorandum of Understanding on 07 October 2015 for design and construction of a Deep Sea Trans-shipment Port in São Tomé e Príncipe.
The Deep Sea Trans-shipment Port will be developed in phases and construction for the first phase is set to be completed by 2018. This landmark project will be developed with active private participation under a PPP model. The Port will be operational in 2019.
The Deep Sea Trans-shipment port on the island of São Tomé will have world-class infrastructure and will be developed to serve the logistics needs of the Gulf of Guinea. The Government of the Democratic Republic of São Tomé e Príncipe is fully committed to this project.
The total investment for all the phases of the project is estimated to be USD 800 million. China Harbour Engineering Company Ltd., (CHEC) plans to invest at least USD 120 million in the project and will also have the responsibility for engineering, design and construction of the project for all phases.
Established in 1980, CHEC is a diversified engineering services conglomerate with an annual turnover of over USD 5 billion. The Company employs over 10,000 employees across over 60 offices around the world serving clients in over 80 countries. CHEC is committed to the core values of keen responsibility, quality return and win-win cooperation. CHEC has delivered many landmark projects of international repute and conducts business with a focus on sustainable growth.