CK Hutchison : Hutchison Ports to Develop, Operate Container Terminal in Egypt

By P.R. Venkat

Hutchison Ports has entered into an agreement with the Egyptian Navy to develop and operate a new container terminal in Egypt.

The total investment in the new terminal is estimated to reach $730 million, Hutchison Ports said late Thursday.

The new terminal will be located inside the Abu Qir Naval Base, the company said.

The investment will be funded primarily by the joint investment of the two partners in phases, with the handling capacity of the terminal reaching two million 20-foot equivalent unit upon completion.

The first phase is expected to commence operations in 2022.

Write to P.R. Venkat at [e-mail]