$1bn Rocket Launch Site: Djibouti Signs Deal With Hong Kong

The Djibouti authorities have signed a preliminary agreement with Hong Kong Aerospace Technology Group for the development of infrastructure for launching satellites and rockets in the Horn of Africa country.

Djibouti President Ismail Omar Guelleh presided over the signing of the accord.

The project, which will cost around $1bn (£822m) and take five years to complete, will also involve the construction of a port and highway in the northern Obock Region.