Egypt's General Authority for Alexandria Port and the Alexandria Supply Chain Company (ASCC) signed an initial $660 million concession agreement on Thursday to develop a liquid and gas bulk terminal at Dekheila Port. The project is fully financed by Egyptian capital through a strategic partnership between petrochemical companies under the Ministry of Petroleum and Mineral Resources—ECHEM, Sidpec, Ethydco, and Gasco—the Holding Company for Maritime and Land Transport under the Ministry of Transport, and a private sector entity. First-of-Its-Kind Terminal in the Middle East and Southern Mediterranean Deputy Prime Minister for Industrial Development, Kamel El-Wazir emphasised that the new terminal would be the first of its kind in the Middle East and Southern Mediterranean, equipped to receive, store, and regasify liquefied natural gas (LNG). The facility will include: * An 800-metre-long pier with a navigational depth exceeding 20 metres, allowing two vessels to dock simultaneously, each with a capacity of up to 250,000 tons. * Onshore facilities spanning 390,000 square metres, featuring storage areas for liquid and gaseous products, regasification units, loading and unloading equipment, and a pipeline network for import and export operations. Commitment to Global Standards and Environmental Sustainability Deputy Prime Minister El-Wazir highlighted that the terminal will be built in accordance with international quality standards, integrating environmental sustainability and occupational health and safety measures at every stage. * Phase one is expected to commence commercial operations in 2027, with an initial handling capacity of 350,000 tons per year. * The capacity will gradually increase, reaching 4 million tons annually upon completion of the third phase. A Boost for Egypt's Economy and FX Reserves Beyond its operational impact, the project is set to significantly contribute to Egypt's foreign currency revenues, with projections of $500 million in earnings over its lifespan from ship transits and handling operations. This landmark investment underscores Egypt's commitment to expanding its energy sector, enhancing its logistics capabilities, and positioning itself as a key player in global energy trade. Attribution: Amwal Al Ghad English Subediting: Y.Yasser
