ALEXANDRIA: The Chinese Hutchison Whampoa Limited Company has set off to construct two container terminals in the Alexandria and Al-Dekhaila seaports in Egypt with total investments of $100 million. Ibrahim Youssef, chairman of the Alexandria Port Authority said the combined capacity of the terminals would amount to 800,000 containers. This will increase the number of containers handled in both seaports to 1.4 million a year.
The Chinese company runs about 35 container terminals worldwide and handles a total record of containers estimated at 21 million containers a year.
Youssef said that about $143.3 million (over LE 815 million) has been invested in upgrading the infrastructure and human resources of the Port of Alexandria. He pointed out that the port s annual return amounted to LE 500 million with import tariffs collected estimated at LE11 billion. For 60 percent of Egypt s international trade pass through the Port of Alexandria, he explained.
The Alexandria Port Authority has received three proposals for its bid on a tourism project launched for international companies. All proposals came from Gulf-based companies, including Al Kharafi Group. Investments required for the project are estimated at $500 million (about LE 2.6 billion).
