Egypt-Chinese consortium to run terminals in Red Sea, Mediterranean ports
The Egyptian government signed new concessions with a Chinese alliance to build and operate two world-class container terminals in the ports of Sokhna and Dekhila, as part of a container logistics project to link the Red and Mediterranean seas.
The Egyptian government agreed on Aug. 11 to implement the first phase of the project to construct the Sokhna-Dekhila axis, an integrated container logistics project that links the Red and Mediterranean seas. The project will be executed by Hong Kong-based port operator Hutchison Ports. Giant shipping companies CMA CGM, MSC and COSCO are also part of this project as co-investors.
Marking the event, a signing ceremony was hosted by Egyptian Prime Minister Mustafa Madbouly in Cairo. The project consists of the construction of the superstructure, management, operation, exploitation, maintenance and re-delivery of container terminals at the Sokhna and Dekhila ports.
According to an Egyptian government statement released on Aug. 11, “The agreements involve the implementation of the first project at Sokhna port between the General Authority for the Suez Canal Economic Zone and the consortium of Hutchison-COSCO-CMA. The second project is scheduled to be implemented in Dekhila port between the Alexandria port General Authority and the consortium of Hutchison-MSC (which is still under establishment).”
The statement added, “The signing of the two agreements came within the framework of directives issued by President Abdel Fattah al-Sisi to implement the Sokhna/Dekhila traffic axis project to link between the Red Sea and the Mediterranean Sea.”
