Hutchison invests US$730 million in new Egyptian container terminal

Hutchison Ports has signed a long-term agreement with the Egyptian Navy on the development and operation of a new container terminal in Abu Qir, Egypt.

Hutchison Ports has signed a long-term agreement late Aug, in an online ceremony, with the Egyptian Navy on the development and operation of a new container terminal in Abu Qir, Egypt. The total investment in the new terminal is estimated to reach US$730 million.

The new terminal will be located inside the Abu Qir Naval Base, naturally being sheltered by the Abu Qir peninsula. The greenfield project will be connected to a new two-way highway with 3 traffic lanes on each side and residential bypass, linking it to Alexandria within 20 kilometers, as well as to the national road network to the capital city of Cairo and other major cities across the country.

The US$730 million project will be funded primarily by the joint investment of the two partners in phases, with handling capacity of 2.0 million TEU (twenty-foot equivalent unit) upon completion. It will have a total quay length of 1,200 meters and a 60-hectare terminal yard, additional 100 hectares of land exclusively reserved for yard expansion.

The new terminal has a concession period of 38 years and the first phase is expected to commence operations in 2022.

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