Hutchison Ports has confirmed reports that it has reached new agreements with the Egyptian government for an expansion of its container terminal operations in the nation. News of this agreement comes just days after Maersk also entered into new agreements with the Suez Canal Authority to expand the operations of the Suez Canal Container Terminal (SCCT) that it operates as a joint venture with Egypt through Maersk’s terminal company APM.
The agreement with Hutchison calls for a total investment of $700 million for the initial operations of terminals in Ain Sokhna Port located near the southern terminus of the Suez Canal and the El Dekheila Port in western Egypt near Alexandria. Maersk’s SCCT is located near Port Said in the Mediterranean near the northern terminus of the canal.
Source: maritime-executive.com