Hong Kong-based Hutchison Ports has entered into a long-term agreement with the Egyptian Navy on the development and operation of a new container terminal in Abu Qir on Egypt's Mediterranean coast.
The new terminal will be located inside Abu Qir Naval Base and will be naturally sheltered by the Abu Qir peninsula. It will have a total quay length of 1,200 metres, a terminal yard area of 60 hectares, and an additional 100 hectares of land exclusively reserved for yard expansion.
The terminal's handling capacity is expected to reach two million TEUs.
The total investment in the project is estimated to reach US$730 million.
The new terminal has a concession period of 38 years with the first phase of construction expected to commence in 2022.
