Egypt Signs Agreements to Build Container Terminals at Sokhna, Dekheila Ports worth $1.6 Bln

Prime Minister Mostafa Madbouly witnessed the signing ceremony of two commitment contracts for the two container terminals in the port of Sokhna, and  Berth 100 in Dekheila.

A cabinet statement said Wednesday that the contract includes the implementation of the first project in the port of Sokhna between the General Authority for the Suez Canal Economic Zone (SCZone and the (COSCO-CMA) consortium, while the second project is being implemented in the Dekheila port between the Alexandria Port Authority and the (Hutcheson-MSC) consortium.

The contract for the first project was signed by SCZone Chairman Walid Gamal El Din, Clemens Cheng, Managing Director of Hutchison Europe Ports, Laurent Martins, Vice President of CMA Holding, and Zhao Feng, Managing Director of COSCO.

While the contract for the second project was signed by Nihad Shaheen, Chairman of the Board of Directors of the General Authority of Alexandria Port, Clemens Sching, Managing Director of Hutcheson Europe Ports, and Roman Simon MSC.

On the sidelines of the signing, the Prime Minister stressed the importance the state attaches to the development of Egyptian ports, referring to intensifying efforts to maximize the benefit from Egypt's unique geographical location and the preferential advantages it enjoys.

On his Part, The Minister of Transport Kamel el Wazir stated that the signing of the contracts for these two projects comes within the framework of establishing the Sukhna-Dekheila Integrated Logistics Corridor for containers to link the Red Sea and the Mediterranean in cooperation with the (Hutchison-COSCO-CMA-MSC) consortium, the largest logistical corridor to serve Global trade between East and West, and provides more than 2000 direct and indirect job opportunities.

El-Wazir added that the state is working on transforming the ports of Sokhna and Dekheila into pivotal ports, increasing Egypt's share of the global market for transit trade, in addition to serving Egyptian exports and helping open new markets for Egyptian exports.