CK Hutchison to Invest $700M in Two Major Egyptian Ports

March 16, 2023

Sunset at Ain Sokhna Port at Suez Gulf in Egypt - ©bleung/AdobeStock
Sunset at Ain Sokhna Port at Suez Gulf in Egypt - ©bleung/AdobeStock

CK Hutchison Holdings port unit said on Thursday it would invest about $700 million in two major Egyptian ports, bringing its total investment in the country to more than $1.5 billion.

Hutchison Ports said it would invest in the development of a new container terminal in the Red Sea port of Ain Sokhna, and in B100, a new container terminal in the Mediterranean port of Alexandria.

In a separate statement, Cosco Shipping Ports Limited said it would invest 25% in the Sokhna New Container Terminal - a new terminal built by the Egyptian government.

The operating period for the project is 30 years, and the total investment is about $375 million, the company said. The throughput capacity after completion will reach 1.7 million TEUs. 


 (Reuters - Reporting by Nilutpal Timsina and Bernard Orr; Editing by Subhranshu Sahu and Muralikumar Anantharaman)

Logistics News

Ship Design, Maritime Accidents and There’s a Master on the Run

Ship Design, Maritime Accidents and There’s a Master on the Run

Maersk: Effective US Tariffs Average Around 21% Currently

Maersk: Effective US Tariffs Average Around 21% Currently

US Grain Shipments Surge 9% in face of Chinese Tariffs

US Grain Shipments Surge 9% in face of Chinese Tariffs

Great Lakes Limestone Trade Up in June

Great Lakes Limestone Trade Up in June

Subscribe for Maritime Logistics Professional E‑News

Homeland Security reports eight migrants were deported to South Sudan from Djibouti.
Trump and Zelesnkiy talk about weapons and escalating Russian attacks
US Air Force suspends SpaceX project on Pacific atoll report says