Egypt has kicked off operations at a new multipurpose maritime terminal at Alexandria’s port on Thursday, according to a cabinet statement. The facility — dubbed Tahya Misr — can process 12 to 15 mn tons of goods a year and comes as part of a state-led drive to turn Egypt into a regional trade hub. Egypt’s President Abdel Fattah El Sisi attended the inauguration, where he highlighted that port developments are also taking place at Abu Qir and Gargoub ports.

The details: Spread across half-a-mn square meters, the Tahya Misr facility is divided into three trading yards for the handling of containers, cargo, and cars. The port has the capacity for some 2 mn tons of general cargo, 1.5 mn containers and 100k cars, according to the statement. Tahya Misr will be operated by French shipping giant CMA CGM which is looking to broaden its operations in Egypt by expanding to logistical centers and port terminals near Alexandria, company CEO Rodolphe Saadé said, according to a presidential press release.

What the terminal will bring to the table: The terminal is expected to boost Alexandria Port’s annual revenues by USD 50 mn a year, and will help shorten waiting times for ships docking at the port, create potential investments, and establish 4.5k direct and indirect jobs, according to Dar Al Handasah, which handled the design and project management for the terminal’s construction. The terminal will also play a big role in Egypt’s modern transport sector, through its link to the upcoming USD 4.45 bn high-speed electric rail line, which will link the Red Sea Port of Ain Sokhna to Alexandria and Marsa Matrouh. The terminal will also supply the upcoming dry port in the 6th of October Industrial City as well as the logistics center associated with the Alexandria Port.

Egypt’s ports to process transit trade from Jordan and Iraq: Egypt also recently signed a cooperation protocol for a transit trade scheme dubbed the Arab Trade Line to facilitate transit trade from Jordan and Iraq, and potentially GCC countries, Egyptian Transport Minister Kamel El-Wazir said during the inauguration event (watch, runtime: 3:14). The scheme will see exports from the GCC, Jordan, and Iraq shipped to the Jordanian port of Aqaba via land. From there they will be loaded onto ferries owned by the three governments’ joint venture,Arab Bridge Maritime, and hauled to Taba and Nuweiba before being transported through a recently completed tunnel system to Port Said. At Port Said, the cargoes will be loaded onto ships — via an agreement with CMA CGM — bound for markets in Europe.

IN OTHER NEWS FROM EGYPT-

MSC awarded tender for Egypt’s Tenth of Ramadan dry port: A consortium led by Italy’s Mediterranean Shipping Company (MSC) snagged the bid to establish and operate the 250-feddan Tenth of Ramadan dry port, Transport Minister Kamal El Wazir said Thursday, without giving further details. The dry dock aims to serve the industrial area in Badr, Ain Sokhna, East Port Said, the new capital and the Tenth of Ramadan.

BACKGROUND- Four consortiums submitted their final bids and proposals at the end of April to build and operate the EGP 3.5 bn dry port and logistical hub.

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