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China to build US$800 million Sao Tome and Principe port

Time：2015-10-20 Browse：120 Author：RISINGSUN

CHINA has signed a deal with Sao Tome and Principe to build a US$800 million deep-sea port in the small African island nation in the Gulf of Guinea.

According to an e-mailed statement from the government of Sao Tome and Principe to Reuters, China抯 state-owned China Harbour Engineering Co will invest at least $120 million in the project and will be responsible for the engineering, design and construction of the port.

he deep sea transshipment port will be developed in phases and construction for the first phase is set to be completed by 2018,"the statement said.

The deal comes as Beijing has been courting Sao Tome, positioned in the middle of the oil-rich Gulf of Guinea.