Hong Kong-based Hutchison Holdings Ltd’s port announced on Thursday, a significant investment in Ain Sokhna Port, Egypt’s major port, and B100, a new container terminal in the Port of Alexandria, with total value $700 million.
The investment includes the development of a new container terminal in Ain Sokhna Port with a capacity of 1.7 million TEUs, which will be equipped with state-of-the-art technology and equipment to provide efficient and reliable services to customers.
The new container terminal in Sokhna 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 B100 container terminal, on the other hand, will provide a new gateway to the Port of Alexandria, which is one of the largest ports in the Mediterranean and a key hub for trade between Europe, Asia, and Africa.
The signing ceremony in the honourable presence of Egypt’s Prime Minister Moustafa Madbouly, Minister of Transport Kamel Al Wazir and Group Managing Director of Hutchison Ports