China Development Bank provides a $35 million USD loan to China Harbour Engineering Company for the construction of the New Doha Port

Project narrative

In 2013, the Ningxia Branch of China Development Bank (CDB) issued a $35 million USD loan to China Harbour Engineering Company (CHEC), a subsidiary of China Communications Construction Company (CCCC), for the company's work in the construction of the New Doha Port. The financial details of the loan are currently unknown. On March 13, 2011, CHEC signed a QR 3.2 billion (~$880 million) engineering, procurement, and construction (EPC) contract with the New Doha International Airport Steering Committee (NDIA), an entity with close ties to the Qatari Civil Aviation Authority (QCAA), for its involvement in the first phase of the New Doha Port construction project. According to Xia Xinrui, general manager of the project, 30-40% of the contract value was subcontracted to local Qatari companies. Specific projects included the construction of 11 terminals including a container terminal, a general cargo terminal, a car terminal, a land-based dredging pool, quay wall and 2.7 kilometer (~1.67 miles) breakwaters, and a revetment, excavation of 17 meters (~55.7 feet) deep port basin, and the removal of 63 million cubic meters (~206.6 million cubic feet) of sand and rock. The project was finished on time on June 28, 2015. Other contractors included Belgian Dredging International and Middle East Dredging Company (Medco), which won a $550 million contract funded by Qatar Islamic Bank. As the largest modern port in Qatar with a water depth of 18 meters (~59 feet) and nearly 4 million square meters (~13.1 million square feet) of harbor basin, the port can achieve an annual throughput capacity of 6 million TEU, 1.7 million tons of breakbulk, 1 million tons of grain, and 500,000 cars.