The Port of Damietta Authority and China Harbor Engineering Company Ltd have signed a Memorandum of Understanding for the development of a second container terminal at Egypt’s Damietta Port.
Work is expected to take two years on the new terminal, resulting in the addition of 2,225 metres of berths, with a water depth of 17 metres and stacking space of 700,000 square metres.
85% of the financing is expected to come from China but with the full ownership retained by the Port of Damietta Authority, who said:
“Feasibility studies conducted in this regard confirm market and economic effectiveness of the new terminal which will greatly enhance already operating national container terminal performance in accommodating latest containerships.”
The port will provide further choice for shipping lines along Egypt’s Mediterranean coast as they transit the Suez Canal on worldwide routes, such as CMA-CGM’s NEMO (North European Mediterranean Oceania) and Hapag Lloyd’s EAX (Europe, Australia Express) combined services.