Hutchison Ports, global port operator, announced a significant investment in Egypt’s major port, Ain Sokhna Port and B100, a new container terminal in the Port of Alexandria, earlier today.
The total investment of the two projects is approximately US$700 million, bringing Hutchison Ports’ total investment in Egypt to over US$1.5 billion. The investment includes the development of a new container terminal in Ain Sokhna Port with a capacity of 1.7 million TEUs (twenty-foot equivalent units). In addition, Hutchison Ports will invest in the development of B100, a new container terminal in Port of Alexandria, which will serve as a gateway to the Egyptian market.
The new container terminal in Sokhna will provide a significant boost to Egypt’s maritime trade, as it is strategically located on the Red Sea and offers direct access to major shipping routes. The B100 container terminal, on the other hand, will provide a new gateway to the Port of Alexandria, which is one of the largest ports in the Mediterranean and a key hub for trade between Europe, Asia, and Africa.
Hutchison Ports, CMA CGM, and COSCO Shipping have joined forces at Sokhna Port, while Mediterranean Shipping Company (MSC) will collaborate with Hutchison for a terminal at Dekheila near Alexandria on the Mediterranean.
In 2020, Hutchison Ports inked a long-term agreement with the Egyptian Navy on the development and operation of a new container terminal in Abu Qir, Egypt.
Speaking at the concessions signing ceremony in the presence of Mostafa Madbouly, Prime Minster of Egypt and Kamel Al Wazir, Minister of Transport, Mr. Eric Ip, Group Managing Director of Hutchison Ports, said that those investments will enable them to provide high-quality services to customers and contribute to the growth and development of the local economy.
