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Chinese bank funds Nigeria’s first deep sea port construction

China Development Bank (CBD) will provide a 629 million U.S. dollar financing facility to enable a consortium led by China Harbour Engineering Company (CHEC) to construct and run the first deep sea port in Nigeria.

At the facility agreement signing ceremony held in Lagos, Biodun Dabiri, chairman of Lekki Port Board of Director, said upon completion, the Lekki Deep Sea Port would become one of the deepest ports not only in Nigeria but also in sub-Saharan Africa, which can accommodate larger vessels thereby making Nigeria the trans-shipment hub of the region.

Read more on Xinhua.

Source: Xinhua