Narrative
Full Description
Project narrative
In December 2013, the Chinese Government pledged to expand two container ports in the southern cities of Aden and Mokha (Mocha) with a concessional loan from China Eximbank worth $507 million. This project involved the construction of an additional berth on the western side of Aden's container terminal, as well as the deepening and expansion of the port's outer and inner navigational channels. It also involved the expansion of the turning area and the installation of container cranes, RTGs and tractors for the first phase of the berth. The project sought to increase the handling capacity of the two ports by up to 1.5 million containers. Although the Saba news source identifies the face value of the loan as $507 million, several media and official sources state that the face value loan was for $508 million. The loan agreement was never finalized due to the security situation in Yemen.