EDECS bags construction contract for 1.61 mn TEU container terminal at Ain Sokhna Port: Red Sea Container Terminals has inked a construction contract with leading regional construction company EDECS for a new container terminal at Sokhna Port’s Red Sea Containers Terminals, Al Mal reports.

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Details: EDECS will serve as the main contractor for all phases of the project, and the terminal is expected to be fully operational within 18 months. EDECS will manage infrastructure construction, yard development, and the integration of technological solutions. The project aims to elevate Ain Sokhna Port’s status as the largest port on the Red Sea in terms of quay wall length, which will exceed 20 kilometers, said EDECS Chairperson and Managing Director Hussein El-Dessouky.

Background: Egypt inked an agreement with a consortium made up of France’s CMA Terminals, Hong-Kong’s Hutchison Ports, and China’s COSCO Shipping Ports, dubbed Red Sea Container Terminals, to construct the new terminal at Sokhna Port back in March last year. The joint venture is set to operate and maintain the terminal for 30 years. Egypt also inked an agreement with Hutchison Ports and MSC to build a terminal at Dekheila Port, with both agreements worth some USD 1.6 bn. The two terminals are expected to bring in around USD 5 bn in revenues over the 30-year contracts.

Plugging investments into Egypt: Hutchison Ports has said that it is looking to pour some USD 2 bn in investments in Egypt over the next few years. Cosco Shipping Line said last month that it will invest USD 375 mn to increase its container capacity at various Egyptian ports this year.

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