An agreement has been signed between the Damietta Port Authority (DPA) and Damietta Alliance Container Terminal which consists of three core shareholders; Germany’s Eurogate, Contship Italia and Hapag-Lloyd to build and develop the superstructure of the Second Container Terminal “Tahya Misr 1” in Damietta port.
The agreement, signed in the presence of Prime Minister Mostafa Madbouli and Transport Minister Kamel el Wazir, also includes using, managing and operating the Second Container Terminal “Tahya Misr 1” in addition to conducting maintenance works there.
The deal was signed by DPA Chairman Ahmed hawash as the first party in addition to Chairman of Board of Directors of Eurogate Thomas Eckelmann, President of Contship Italia Cecilia Eckelmann-Battistello and Regional President of Hapag-Lloyd Juan Pablo as the second party.
The deal stipulates establishing port berths that are 1,970 meters long built at a depth of 18 meters and accommodating 4.5 million twenty-foot equivalent units (TEUs) of container ships.
Work is underway to finalize the port’s infrastructure in December at a cost hitting EGP 4.5 billion.
The prime minister hailed efforts exerted by all concerned parties during the negotiations that were crowned by signing this key agreement which he said falls within the framework of the State’s keenness to turn Egypt into a global trade hub.
The premier said the government is keen to offer all means of support and facilitation to the private sector as well as to the domestic and foreign investors in a way that helps lure further investments.
Source: State Information Service Egypt