The Export-Import Bank of China will lend as much as US$600 million to fund construction of a deep-sea port in Cabinda province in northern Angola, Bloomberg reports.

The news agency cited the chairman of the Angolan sovereign wealth fund FSDEA, José Filomeno dos Santos.

The port’s first phase is expected to be completed in the second half of this year and includes a 630-metre-long container terminal, power plant and free-trade zone. The work will be undertaken by a Mainland company.

The port would boost trade in the area and create about 20,000 jobs, Mr dos Santos said.