HUTCHISON Ports, the global port operator, has announced a significant 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 about $700 million, bringing Hutchison Ports’ total investment in Egypt to more than $1.5bn and paving a solid foundation for the company’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 a capacity of 1.7 million TEUs (twenty-foot equivalent units), which will be equipped with state-of-the-art technology and equipment to provide efficient and reliable services to customers. In addition, Hutchison Ports 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 in the presence of Mostafa Madbouly, Prime Minster of Egypt and Kamel Al Wazir, Minister of Transport, Egypt, 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.
Hutchison Ports has a strong track record of investing in emerging markets and is committed to working closely with local partners and stakeholders to drive sustainable growth and development. The new terminal facilities will further expand the network to 52 ports in 25 countries across Asia, the Middle East, Africa, Europe, the Americas and Australasia.