(Ecofin Agency) - China Harbour Engineering Company (CHEC) signed on October 25, 2016 a $770 million contract with the government of Guinea to expand the port of Conakry.

Under the terms of the agreement, the Chinese group will build three new docks totaling a length of 846 linear meters, a parking lot able to receive 600 trucks, a 4km-long road and a 550m interchange. The project will be mostly financed by the China Import-Export bank and includes the development of 41.6 hectares of open areas.

“After it is expanded, the autonomous port of Conakry will be the largest port infrastructure in the sub-region,” said director of CHEC Guinea, Ding Jialong, at the ceromony for the signing of contract in Conakry.

Guinea’s economy which suffered Ebola outbreak that officially ended in June 2016, is recovering progressively. The International Monetary Fund in its forecasts concerning the nation said its GDP should grow by 5% in 2016, against a null growth in 2015, spurred by rebound of the mining, agriculture and energy sectors.