Hutchison Ports Plans A $700 Million Investment In Two Egyptian Ports

With the announcement on Thursday, the port division of CK Hutchison Holdings Ltd (0001.HK) will invest around $700 million in two significant Egyptian ports, boosting the company’s overall investment in Egypt to more than $1.5 billion.

Hutchison Ports
Image for representation purposes only

Hutchison Ports aims to use the money to build Alexandria’s Mediterranean port’s B100 as well as the new container terminal in Ain Sokhna, which is a port lying along the Red Sea.

Cosco Shipping Ports Ltd will invest $375 million and operate the Sokhna New Container Terminal for 30 years, covering 25% of the cost of a new container terminal being constructed by the Egyptian government. When finished, it will be able to accommodate 1.7 million TEUs.

Source: Reuters, Nasdaq

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