Hutchison invests US$700m in Egypt
Hutchison Ports is investing US$700 million in two ports in Egypt in a bid to expand its network in emerging markets.
The global port operator will build a new 1.7 million teu container terminal in Ain Sokhna Port and another at the Port of Alexandria.
Speaking at the concessions signing ceremony Eric Ip, group managing director of Hutchison Ports said, “We are delighted to announce our investment in Sokhna and B100 [Alexandria], 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 company says that 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 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.
The new terminal facilities will expand Hutchison’s network to 52 ports in 25 countries across Asia, the Middle East, Africa, Europe, the Americas and Australasia.
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