Hutchison Ports to spend US$700 million to develop container terminals in Egypt
Hutchison Ports will invest around US$700 million in Egypt's major port, Ain Sokhna Port, and in a new container terminal in the Port of Alexandria, B100.
After the completion of the two recent projects, the total investment of the global port operator in Egypt will exceed 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, which will be equipped with state-of-the-art technology and equipment. In addition, Hutchison Ports will invest in the development of B100, a new box terminal in the Port of Alexandria.
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Eric Ip, managing director of Hutchison Ports Group, stated, "These investments will enable us to provide high-quality services to our customers and contribute to the growth and development of the local economy."
Hutchison Ports said the new container terminal in Sokhna is located on the Red Sea and offers direct access to major shipping routes, while the B100 container terminal 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.
Source: Container News
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