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The Board of Directors of the Suez Canal Economic Authority (SCZONE) approved projects worth more than $719 million in East Port Said and Sokhna ports in its first meeting for fiscal 2022-23.
East Port Said projects
Logistics Area: Integrated logistics project (a dry bulk station for grain handling and a logistics zone for value-added operations) by the Roots-Rosa Greens consortium.
Phase 1 of the project, spread over an area of 400,000 square meters (sqm) would be developed at an estimated investment of about 200 million Egyptian pounds ($10 million).
In July, Egypt’s House of Representatives had approved the contract for the 2.2- billion-pound ($144 million) dry bulk station project, which will be developed over an area of 267,000 sqm and includes a 500-metre-long berth and will generate 400 jobs.
Expansion of container terminal: The board approved the $500 million expansion of the Suez Canal Terminal for Container Handling with a 955-metre increase in berth length and a 510,000 sqm container handling yard. The Terminal is currently operating with a 2,400-metre berth and handling space of 1.2 million sqm.
Multi-purpose terminal: The project, which will be developed by Sky Investment – Reliance Logistics consortium involves the construction of a new terminal with a berth length of 900 metres and handling area of 380,000 sqm at a total investment of $65 million and providing 400 direct and indirect job opportunities.
Sokhna Port projects
New container terminal: Execution of the agreement with the Hutchison-COSCO-CMA consortium for the construction, management and operation of a new container terminal in Sokhna port. The project’s first phase includes a 1,200-metre berth with a handling area of 720,000 sqm while the second phase will consist of a 1,400-metre berth with a handling area of 840,000 sqm.
Desalination plant: Start of operations of a 100,000 cubic metres per day sea water desalination plant in October to serve existing projects in the industrial zone.
(1 US Dollar = 19.34 Egyptian Pounds)
(Writing by Marwa Abo Almajd; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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