Japan takes aim at Belt, Road with its largest port project destined for Angola

Japan takes aim at Belt, Road with its largest port project destined for Angola

Japan is pushing ahead with its largest ever overseas port development, which flies in the face of neighbour China’s One Belt, One Road initiative.

Trading house Toyota Tsusho and state-run Japan Bank for International Cooperation are joining forces to raise funds for a huge port in southern Angola that could cost up to 70bn yen ($643m).

The port will be a multipurpose facility, handling oil, iron ore and container exports.

Since 2002, China has been Angola’s biggest investor, and today is believed to account for more than half of all of the African country’s debt.

Japanese state-backed port investments have mainly focused on Asia to date.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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