China and Algeria agree to build $3.3bn Cherchell megaport

Algeria 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