Mauritius has reached an agreement with a Chinese firm to develop a fishing port valued at $113 million, aligning with plans to become a maritime hub for Africa.
Construction on the fishing port will begin next year on a build-operate-transfer (BOT) basis, which will include a quay and other related facilities aimed at handling up to 20 vessels upon completion in 2018.
Speaking to news agency Reuters, Mauritius finance and economic development minister Vishnu Lutchmeenaraidoo said that private investment had to drive the expansion as there was no room for the government to borrow, given a commitment to cut public debt to 50% of gross domestic product by 2018.
"We are moving out from being a small port in the Indian Ocean to become the most important maritime hub in this region,” Lutchmeenaraidoo told Reuters.
