Hutchison Ports has announced its investment in Ain Sokhna Port, Egypt’s major port, and B100, a new container terminal in the Port of Alexandria.
The total investment of the two projects is approximately US$700 million, bringing a total investment in Egypt to over US$1.5 billion and paving a solid foundation for the group’s strategy to expand its network and enhance its capabilities in emerging markets.
The investment includes the development of a new container terminal in Ain Sokhna Port with the planned capacity of 1.7 million TEUs, which will be equipped with smart technology and equipment to provide efficient and reliable services to customers.
In addition, the company will invest in the development of B100, a new container terminal in Port of Alexandria, which will serve as a gateway to the Egyptian market.
Speaking at the concessions signing ceremony Eric Ip, Group Managing Director of Hutchison Ports said, “We are delighted to announce our investment in Sokhna and B100, which reflects our commitment to Egypt and the wider African market. These investments will enable us to provide high-quality services to our customers and contribute to the growth and development of the local economy.”
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.
GROUP PHOTO OF SOKHNA CONCESSION AGREEMENT SIGNING CEREMONY
(Left to right) Laurent Martens, Vice President of CMA Terminals; Clemence Cheng, Managing Director, Europe of Hutchison Ports; Eric Ip, Group Managing Director of Hutchison Ports; Dr. Mostafa Madbouly, Prime Minster of Egypt; Lt. General Kamel El Wazir, Minister of Transport, Egypt; Waleid Gamaleldien, Chairman of the Suez Canal Economic Zone and Fengnian Zhao, Chief Account of COSCO SHIPPING Ports
THE SIGNING OF B100 CONCESSION AGREEMENT
(Back row standing from left to right) Eric Ip, Group Managing Director of Hutchison Ports; Dr. Mostafa Madbouly, Prime Minster of Egypt and Lt. General Kamel El Wazir, Minister of Transport, Egypt (Seated from left to right) Clemence Cheng, Managing Director, Europe of Hutchison Ports and Rear Admiral Nihad Shaheen, Chairman of the Alexandria Port Authority