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Business - Explainers - Profiles - June 3, 2019

China Firm Signs Deal to Build Port in Somalian Town

Newly elected President Said Abdullahi Deni of the Puntland State of Northeast Somalia has signed a deal with the China Civil Engineering Construction Corporation (CCECC) to construct a port in the Red Sea town of Eyl, Somalia.

President Deni signed the arrangement during a trade visit to China on Friday.

The project will add to the previous undertaken by CCECC in the region, including airports in Galkoya and Bosaso, as well as a toll road between Eyl and Dangorayo.

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China has been in talks with Puntland authorities over infrastructure deals in exchange for financial aid and investment for the past three years.

The State of Puntland with its 1,600km of coastline territory, has the lowest rate of poverty in Somalia.

Eyl is one of the principal fishing locations in Somalia, where lobster, tuna and other high value seafood is gathered for domestic and international sales.

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