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China’s CCCC to construct a US$398 million oil port in Mombasa, Kenya
The Kenyan Ports Authority has confirmed the award of a US$398million oil facility in Mombasa. The contract award recipient is China Communications Construction Company (CCCC).
This US$398 million oil port facility will certainly boost the nation’s oil handling capacity by 500%. According to Mr. Daniel Manduku (Acting Head of Kenya Ports Authority), the construction of the facility will be within 18 months.
This project will also join the list of infrastructural projects awarded to China Communications Construction Company. The publicly-traded Chinese company has a strong presence in Kenya. CCCC constructed the US$3.23 billion Mombasa-Nairobi Standard Gauge Railway in Kenya.
Upon completion, this project will boost the nation’s GDP and also reinforce Kenya’s position as the major economy in East Africa. Unlike some African countries, the economy is diversified. It is driven by financial services, real estate and construction, retail, tourism and telecom.