Sky Ports may set up a new terminal in Ain Sokhna: Egypt’s Suez Canal Economic Zone (SCZone) inked an MoU and usufruct agreement with Sky Ports to develop and operate a multipurpose terminal at Ain Sokhna Port, according to a statement. The investment figure for the new terminal or project timeline was not disclosed.

The breakdown: Under the MoU, Sky Ports, a subsidiary of Sky Investments Holding, will conduct the required studies for the establishment, operation, and maintenance of the terminal. The two parties also inked a land usufruct agreement for berths and land that will be included in the project for 18 months, covering the expected period of the project’s technical study.

What’s on the cards? The new terminal will include a 588-meter-long quay for receiving vessels and a 250k sqm logistics yard to support cargo operations. The project will also feature some 100k sqm of warehouses within Ain Sokhna’s industrial zone, which will be directly linked to an integrated customs yard at the port.

PLUS- The terminal is slated to handle some 2 mn tons per annum in its first phase of operations, serving key shipping and trade routes between the GCC, East Africa, Asia, and India.

REMEMBER- Sky Ports is deeply invested in SCZone ports, and its Chairman Tarek Hussein recently told us that they are capitalizing on the SCZone’s emergence as “a single industrial–logistics platform.” The company inaugurated this week a USD 65 mn multipurpose terminal in East Port Said port, featuring a 900-meter berth with an annual handling capacity of 8.5 mn tons. It is also working towards launching its cement silos project in the same port that will serve as an export base for the construction material, Hussein told EnterpriseAM last week.

ICYMI- East Port Said port is having a good run this year, after it was ranked Africa’s top container port and the third globally on handling efficiency, according to the World Bank’s container port performance index.

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