The Damietta Port Authority is in talks with local banks and international financiers for a USD 305 mn loan needed for the establishment of its second container terminal, sources tell Al Mal. The banks include NBE, CIB, QNB, and AAIB, while the international financiers include EBRD, IFC, and JICA. The Authority is looking to establish a new company to oversee the construction after negotiations failed with several firms, including China Harbor. PricewaterhouseCoopers had been tapped last year to conduct feasibility studies for the project.

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