Egypt's sugar plant, the biggest in the world, to produce 900,000 tons    Egypt's unemployment rate drops to 7.2%    Egypt's exports of food industries increase 5% in Q1    Egypt-first to have new climate targets ahead of UN summit    Egypt uncovers official logo for COP27    Ukrainian people say goodbye to Leonid Kravchuk – first elected president    Noura Al-Mutair – first Gulf female boxer in World Championships    Egypt unveils 50 pound coin minted to mark Avenue of Sphinxes grand reopening    Canada's Robert Oliphant starts Egypt, Morocco visit today    Liverpool fans: "You'll Never Walk Alone" to Cristiano Ronaldo    Hot, rainy weather hits Egypt this week    COVID-19 in Egypt: infections fall to 124 cases last week    Realme announces Global Photography Contest 2022    Egypt to play key role in integrating water, climate issues globally – World Bank official    AstraZeneca to boost Egypt investment 50% in three years    Egypt's telecoms regulator announces working hours for holy month of Ramadan    Maha karara joins AAIB as Head of Corporate Communications, Sustainability    Egypt works on charting cooperation strategies with international institutions for 5 years: Al-Mashat    Over 2.4 million newborns examined for hearing impairment: Health Ministry    Netflix releases trailer of Arab adaption of 'Perfect Strangers' film    Balqees to headline concert celebrating launch of streaming giant LIVENow in MENA    Sawsan Badr to be honoured at Aswan Women Film Festival    MP Abdel Hady Al-Qasby calls government to facilitate and support NGOs    Al-Sisi follows up on 'Great Transfiguration Project' in St. Catherine    Cairo, London stress need to strengthen cooperation to face climate change    Foreigners account for 22.6% of Egypt's T-bills issuances in 1H 2021: CBE    Egypt's ambassador to Italy passes away    Egypt confirms readiness to help African countries face terrorism and extremism    An estimated 235 million people needed humanitarian assistance and protection in 2021, an increase of 40% compared to 2020: IOM Egypt    Egypt, DRC discuss water cooperation during WYF    Egypt, DR Congo discuss boosting bilateral cooperation during WYF    Cameroonian police probe assault on three Algerian journalists covering AFCON    Pharaohs start AFCON 2021 campaign with fierce clash against Nigeria    Foreign Ministry opens capacity building course for French-speaking African diplomats    Egypt's trade with Nile basin countries climbs 26% y-o-y in 9 months    Ethiopia halts work at its embassy in Egypt for 'economic reasons'    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

Egypt expands port, to tender new terminal in 2010
Published in Daily News Egypt on 01 - 11 - 2009

CAIRO: Egypt will issue a tender in 2010 to build a third container terminal at East Port Said on the Mediterranean to help attract over $5 billion in investment in port and related services by 2030, the Transport Ministry said.
Egypt, which controls the vital Suez Canal trade route, is seeking to boost infrastructure investment to push annual economic growth back above 7 percent in the next two years, matching the level it reached before the world economic crisis.
East Port Said has one terminal operating now, handling 2.4 million twenty-foot equivalent units (TEUs) in 2008, roughly 40 percent of Egypt s total container traffic of 6.08 million TEUs. Alongside East Port Said, Egypt has three other main ports.
East Port Said s second container terminal is being built.
The Transport Ministry said in a statement that the third terminal was part of a plan to boost East Port Said s container capacity to 8 and 13 million TEUs by 2030.
The statement added that results of a tender to build and operate a liquid bulk terminal, worth LE 1.6 billion, would be announced by the end of 2009.
I think we will be the first (in the Mediterranean) within the next two to three years in terms of container traffic, Transport Minister Mohamed Mansour told Reuters, speaking shortly before he resigned last week.
The increase in transport and spending in infrastructure is definitely key to the continued sustainable growth in the country, said Mansour, who added that the third container terminal tender would be issued in 2010.
The ministry said in its statement the government aimed to draw in LE 30 billion by 2030 from local and foreign investors in port and related services.
East Port Said s location at the northern entrance to the Suez Canal means it can operate as a transshipment hub for vessels heading to Europe, Africa or Asia.
Marc Pauchet, shipping analyst at London s Maritime Strategies International (MSI), told Reuters that East Port Said s position meant vessels did not need to deviate from a major shipping route, giving it an advantage over rival ports.
MSI projects trade in Western Europe, which includes the western Mediterranean and northern Europe, would grow by 5 percent in 2010 and 6 percent in 2011, he said, adding trade growth in the whole Mediterranean would be similar.
He said East Port Said had to be efficient and cut costs to compete with Mediterranean ports like Spain s Algeciras and Malta.
Egypt s container traffic increased to 6.08 million TEUs in 2008 from 5.07 million TEUs in 2007, Egypt s Maritime Research and Consultation Center (MRCC) said.
East Port Said s private operator, the Suez Canal Container Terminal (SCCT), which began work in 2004, saw throughput rise 14.3 percent to 2.4 million TEUs in 2008 over 2007, MRCC said.
Mansour said Suez Canal Container Terminal was doubling its quay wall length to 2,400 meters over 18 months to build a second container terminal. He said East Port Said now covered an area of 35 sq km and that would rise to 57 sq km by 2030.
Mashreq Petroleum won a concession in 2007 to operate a 210,000 sq meter bunkering terminal in East Port Said. The first phase cost was $120 million with operations starting by mid-2011, the firm s executive president, Tamer Abubakr, said.

Clic here to read the story from its source.