In June 2014, the first vessel will anchor at the Kribi deep seaport (component of the Kribi industrial port complex), confirmed the coordinator of the project, Patrice Melom in an interview published in the Cameroon Tribune on Wednesday June 17 2013. Kribi port is located at a distance of about 200 kilometers from Douala, the economic capital of Cameroon.
The developer, China Habour Engineering Company (CHEC), a Chinese company working as an EPC contractor (EPCC), agreed to deliver the keys of the commissioned project to the Cameroon, Patrice Melom noted.
85% of the project is funded by China Import and Export Bank (China EximBank) and the rest is from the State of Cameroon.
It has two specialized terminals: a multipurpose terminal and a container terminal, and the first phase will create 2,000 direct jobs.
Initiated in the 1980s, it was only was revived in 2008, and construction began on December 27, 2010 after Cameroon reached the completion point of the HIPC initiative, marked by the cancelling of external debt and the possibility for the state to resume large investments, after two decades of structural adjustment.