Egypt has signed a memorandum of understanding (MoU) with Hutchison Ports to build a container terminal in Egypt’s port of Abu Qir.
Hutchison Ports currently operates in 51 ports across 27 countries in the world handling 11% of the global marine cargo trade. It operates two ports in Egypt – Alexandria and El Dekheila, both located on the Mediterranean Sea.
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The MoU was signed during a meeting in Cairo attended by Egyptian President Abdel-Fattah al-Sisi, commander of the Egyptian naval forces Ahmed Khaled, Hutchison Ports Group Managing Director Eric S.C. Ip and Hutchison Ports Executive Director Clemence Cheng.
Ip also announced that the company will train more than 1,500 Egyptian engineers and workers for various jobs on construction of the terminal.
He added that the company’s investment in Abu Qir port is an opportunity grabbed from the improved investment climate and infrastructure development efforts by the Egyptian government.
According to the company, once all phases of the project are completed, the terminal will be able to handle up to 1 million containers annually.
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