Today saw the signing of a concession contract for building and operating a new maxi-container terminal in the port of Damietta.
The key players are the Eurokai Group, through its subsidiaries Eurogate and Contship Italia, German shipping line Hapag Lloyd, and other minor partners.
A joint venture has been set up to develop and operate the port’s new ‘Terminal 2’ for 30 years. Damietta Alliance Container Terminal S.A.E. will consist of the following companies: Hapag-Lloyd Damietta GmbH (39%), Eurogate Damietta GmbH (29.5%), Contship Damietta Srl (29.5%), Middle East Logistics & Consultants Group (1%) and Ship & C.R.E.W. Egypt S.A.E. (1%).
This new terminal is expected to be operational in 2024. It will have an annual port handling capacity of 3.3 million TEUs once fully operational. It has been designed to cater, in particular, for Hapag Lloyd, (but not only) by serving as a container transshipment hub for the Eastern Mediterranean.
Translation by Giles Foster
