The Port will be built on about 104 acres in 6th of October City, a suburb of the capital, Reuters reported. It will be serving customs clearance of containers that are handled through the Alexandria and Dekheila ports. This aspires to ease container traffic.

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Now, technical and financial bids will be presented in May, and then the winning bidder will be announced. The agreement will last for up to 30 years, after the end which the port will be owned by the state.

Container Corporation of India currently leads one of the consortiums with Egypt’s Hassan Allam Holding and Singapore’s PSA International Pte.

A second consortium is led by the UAE’s DP World, along with the Egypt-based Holding Company for Maritime and Land Transport SAE.

Finally, the third consortium consists of Egypt’s Elsewedy Electric, includes Schenker Egypt and Egypt-based 3A International.