State-owned Damietta Container & Cargo Handling Company (DCHC) is set to complete the construction of Damietta Port’s second container terminal by January 2021 after renovation works were postponed due to covid-19, DCHC Chairman Alaa Ibrahim told Youm7. The port expansion will cost a total USD 500 mn and will lead to a 20-25% increase in the terminal’s capacity to reach 1.8 mn containers per year, he said. The European Bank for Reconstruction and Development will provide a USD 300 mn loan to finance the project which was approved by the Planning Ministry back in May.

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