Sunset at Ain Sokhna Port at Suez Gulf in Egypt - ┬ębleung/AdobeStock

Reuters

CK Hutchison Holdings port unit said on Thursday it would invest
about $700 million in two major Egyptian ports, bringing its
total investment in the country to more than $1.5 billion.

Hutchison Ports said it would invest in the development of a new
container terminal in the Red Sea port of Ain Sokhna, and in
B100, a new container terminal in the Mediterranean port of
Alexandria.

In a separate statement, Cosco Shipping Ports Limited said it
would invest 25% in the Sokhna New Container Terminal – a new
terminal built by the Egyptian government.

The operating period for the project is 30 years, and the total
investment is about $375 million, the company said. The
throughput capacity after completion will reach 1.7 million TEUs.

(Reuters – Reporting by Nilutpal Timsina and Bernard Orr;
Editing by Subhranshu Sahu and Muralikumar Anantharaman)

Mar 16, 2023