Egypt’s Ain Sokhna port to get direct revenue of $5 bln in 30 years

The Egyptian Minister of Transport Kamel El-Wazir said that Ain Sokhna port development project – Egypt’s largest container terminal will bring direct returns of $5 billion during the 30-year contract period.

Al Wazir made his remarks on the sideline of deliveries of the first Sokhna port development project for Hutchison Ports in order to establish the superstructure, manage, operate, exploit, maintain and re-deliver a container terminal.

The Minister noted that the total value of investment in the two projects is about $1.6 billion, and the trading capacity of more than five million equivalent containers per year.

The planned axis would be the largest logistical corridor to serve global trade between the east and the west and would secure more than 2,000 direct and indirect job opportunities, El-Wazir said.