Thursday, March 30, 2023

An Egyptian agreement with a global alliance to manage and operate shipping lines

Egyptian presidency

Egyptian President Abdel Fattah El-Sisi received a coalition of international companies in the field of managing and operating lines, and a delegation of heads and representatives of a number of major international companies (Chinese, French and Swiss) working in the field of managing and operating shipping lines and international container terminals, in the presence of Lieutenant General Kamel Al-Wazir, the Egyptian Minister of Transport, and Lieutenant General Ahmed Khaled, Commander of the Strategic Command, who supervises military industrialization, and Lieutenant General Ashraf Atwa, Commander of the Egyptian Naval Forces.

Counselor Ahmed Fahmy, the official spokesperson for the Egyptian Presidency, stated that the meeting comes in the wake of the Egyptian government’s agreement with a consortium that includes Hutchison Ports companies / COSCO / CMA Terminals / MSC to establish, manage, operate, exploit, maintain and re-delivery two container terminals in the ports of Sokhna and Dekheila, with investments estimated at about $1.6 billion, as the two terminals will add a capacity to Egyptian ports of up to 5 million TEUs/year, which represents an increase of 50% of the Egyptian ports container handling capacity.

During the meeting, the attendees expressed their optimism about the future of investment in Egypt, in light of the advanced thinking they perceive in managing the business climate, aiming to maximize the benefit from the integrated modernization of the infrastructure, whether at the level of sea ports, or the advanced road and transportation network that links them, especially the fast electric train. In order to achieve communication between production and consumption areas, logistical centers and dry ports, in addition to the positive growth in the level of facilities and services, all of which qualify Egypt to absorb larger investments in all fields.

A spokesman for the Egyptian Presidency stated that President Abdel Fattah El-Sisi affirmed Egypt’s keenness to enhance cooperation with the global alliance of companies, in light of the high international standing enjoyed by these companies in their field, and distinguished technical and administrative expertise, within the framework of the state’s endeavor to implement the construction project. The Sukhna / Dekheila integrated logistics hub for containers, which is the largest integrated logistics corridor to serve global trade between East and West by linking the Red and Mediterranean Bahrains, which increases Egypt’s share in the global market for transit trade, and contributes to opening new markets for Egyptian exports by operating direct navigation services. In addition to providing new job opportunities for Egyptian citizens.


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