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Hutchison Ports inks Egyptian ports concession agreement

Photo: Hutchison Ports Hutchison Ports inks Egypt concession agreement
Hutchison Ports has announced an expansion of its cooperation with the Egyptian government through the initialing of concession agreements to operate container terminals in Ain Sokhna Port and El Dekheila Port.

Total investment for the initial operations of the two projects is approximately $700m, bringing Hutchison Ports’ total investment in Egypt to over $1.5bn.  

Together with the co-investors CMA CGM, Cosco Shipping Ports for the project in Sokhna and Terminal Investment Limited for the project in El Dekheila, Hutchison Ports is confident to bring these projects to a success.

Eric Ip, Group Managing Director of Hutchison Ports commented, “We have been operating in Egypt for almost 20 years,and it has always been an extremely important market to us, not only because it is located at the crossroads of one of the busiest east-west trade lanes but also the young and very energetic population of the country will result in increasing demand for international trade.”