Hutchison Ports, the global port operator, has announced $700 million of investments in two major port projects in Egypt.
The investment went toward the development of a new container terminal in Ain Sokhna Port, Egypt’s major port, with a capacity of 1.7 million TEUs (20-foot equivalent units), which will be equipped with state-of-the-art technology and equipment. The new container terminal will provide a significant boost to Egypt’s maritime trade, as it is strategically located on the Red Sea and offers direct access to major shipping routes
The capital also went toward the development of B100, a new container terminal in the Port of Alexandria that will serve as a gateway to the Egyptian market. The Port of Alexandria is one of the largest ports in the Mediterranean and a key hub for trade between Europe, Asia and Africa.
This brings Hutchison Ports’ total investment in Egypt to more than $1.5 billion.
“We are delighted to announce our investm