Project Status as at 31st December 2006

In accordance with the Project follow-up calendar, CNIC carried out an up-date evaluation of progress on on-going works under the industrial component of the Limbe Shipyard Project.

The level of physical execution as at 31st December 2006 stands at 90% on Lot 1 (construction of the Breakwater) with the 210-metre access fully executed.

After the attainment of its final length at 703m, the Breakwater has seen a consolidation of works. The external armour is completed while 700m of internal armour is also in place. Works are currently underway on the laying of surface components with a total of 239 prefabricated concrete components ready and stocked for immediate use.

Overall, this phase has led to the extraction of 1 513 000 tonnes of rock materials from 170 explosions with a total 1 027 000 tonnes of extracted materials already used on the Breakwater.

Under Lot 2, after carrying out 8 bores for geotechnical surveys and 12 Standard Penetration Tests, CNIC deemed the assignment incomplete and requested further investigations. CNIC also demanded 2 complementary bores along the extension of the qay wall.

An analysis of the results obtained will determine the final configuration of the quay wall. A coordination meeting to this effect held in August in Brussels. Effective construction work is imminent on this Lot for which the contracting firm - Six Construct Co. International Ltd - has already mobilized.

As concerns Lot 3 awarded to Dredging International N.V of Belgium and as indicated in earlier project updates, the dredging of soft sediments with the help of a trailer hopper suction dredger commenced on 12th November and ended on 25th November 2005. The removal of altered rocks and further dredging with the use of explosives followed in January 2006. These works ended on 27th February 2006 after the dredging of a total of 49 800 m³ of soft sediments and 304 000 m³ of rocky substances.

Phase of dredging works (Lot3) completed in Feb. 2006

As regards Lot 4, after the fulfilment of required administrative procedures, work on the construction of a training centre financed by the African Development Bank (ADB) is due to commence in March 2007.

In response to demand from clients and in a bid to ensure readiness for use, anticipated works are scheduled to be effected as from early February to provide a temporary anchor facility (quay) of 100m long at -5CD along the Breakwater.