China Merchants Port Holdings has signed strategic cooperation agreements with China Africa Development Fund and China Portugal Cooperation Development Fund to seek investment opportunities.
Under the agreements, the parties will work together to promote the development of potential port and infrastructure projects in Africa and Portuguese speaking countries including Portugal, Angola, Brazil, Cape Verde, Guinea-Bissau, Mozambique, and East Timor. China Merchants will provide operational and technical expertise while the funds will provide financial support.
Both China Africa Development Fund and China Portugal Cooperation Development Fund are led by China Development Bank.
State-run China Merchants Group is one of the major overseas investment entities under China’s Belt and Road initiative.
China Merchants Port currently has a port network spanning 36 ports in 18 countries and regions.
Source: Splash247