China’s biggest port operator has moved to consolidate its foothold in Djibouti after it agreed a financing deal with the East African nation to turn its Port of Djibouti into an international business hub.China Merchants Group signed the US$350 million investment deal with state-owned company Great Horn Investment Holding on December 29, paving the way for the revamp of the port, which is more than a century old.Located in Djibouti City, the US$3 billion project is to be modelled on the…


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