Egypt signs major port deals
Egypt has mapped out its next generation of ports across the country, signing deals yesterday worth $1.6bn to develop container terminals at Sokhna and Dekheila
Hutchison Ports, CMA CGM, and COSCO Shipping have come onboard for a new terminal at Sokhna Port on the Red Sea, while Mediterranean Shipping Company (MSC) will partner with Hutchison for a terminal at Dekheila near Alexandria on the Mediterranean.
The two projects serve as an “important step” toward creating a container link between the Red Sea and the Mediterranean, Egypt’s minister of transport Kamel El-Wazir said, with plans to link the two ports by train.
Investments in Egyptian port infrastructure have shot up over the past two years with the country trying to position itself as a future green refuelling hub.