Cairo – August 26, 2024: The Alexandria Port Authority is set to transfer the management of three maritime terminals to both local and international operators by the end of the year, Chairman Ahmed Hawash announced earlier today.
The Alexandria Sea Port is vital to Egypt’s maritime industry, handling about 60 percent of the nation’s foreign trade.
Five companies are competing to manage and operate the passenger terminal at Alexandria Port, which accommodates four large cruise ships and up to 5,000 tourists, and includes a duty-free area and commercial center.
The chairman disclosed that a committee is reviewing the bids and will select the operator soon.
Several local consortiums are competing for the management of the 300,000-square-meter dry bulk terminal at Dekheila Port.
In July, it was reported to be won by a consortium of three local firms, which plan to invest about $50 million in the project's first phase.
A separate consortium comprising Hutchison Ports, Cosco, CMA CGM, and Italy’s Mediterranean Shipping Company (MSC) will take over a container terminal at Dekheila Port, managing and maintaining it for 30 years.
Earlier this month, local media reported that the Alexandria Port Authority was looking into borrowing EGP 6 billion from a banking consortium led by the National Bank of Egypt (NBE) to fund infrastructure improvements.
The loan is anticipated to be approved in August and will be guaranteed by the Ministry of Finance.
In March 2023, the Egyptian government signed two major agreements totaling $1.6 billion, which included an agreement with another Hutchison Ports-led consortium excluding MSC for a new terminal at Sokhna Port.
The new Sokhna terminal will boost annual capacity by 3.5 million Twenty-foot Equivalent Units (TEU), and the Dekheila terminal will increase by 1.5 million TEU. Sokhna currently has a capacity of 1.75 million TEU, and Dekheila has 1 million TEU. These projects are expected to create approximately 2,000 direct and indirect jobs.
Be Social
Comments
Leave a Comment