{"id":73682,"date":"2023-09-25T00:00:00","date_gmt":"2023-09-25T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/09\/25\/damietta-ports-second-container-terminal-could-see-a-usd-125-mn-loan-from-the-ifc\/"},"modified":"2023-09-25T00:00:00","modified_gmt":"2023-09-25T00:00:00","slug":"damietta-ports-second-container-terminal-could-see-a-usd-125-mn-loan-from-the-ifc","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/09\/25\/damietta-ports-second-container-terminal-could-see-a-usd-125-mn-loan-from-the-ifc\/","title":{"rendered":"Damietta Port\u2019s second container terminal could see a USD 125 mn loan from the IFC"},"content":{"rendered":"

The International Fi <\/strong> nance Corporation (IFC) is expected to greenlight a USD 125 <\/strong> mn loan for the construction of Damietta Port's second container terminal <\/strong>on 30 October, according to a disclosure on the lender\u2019s website<\/a>. <\/p>\n

The details: <\/strong>The project, valued at USD 665 mn, is led by a consortium of European companies<\/a> including Hapag-Lloyd, Eurogate Terminals, and Contship Italia who signed an agreement with the Damietta Port Authority last year to develop and operate the terminal. They will establish the terminal under a 30-year build-operate-transfer framework, increasing the port's capacity to 4.7 mn TEUs by the third year of operation. The terminal will have a final capacity of 3.3 mn TEUs and is expected to begin operating by 2024.<\/p>\n

Remember: <\/strong>The funding is part of a USD 455 mn financing package<\/a> involving the IFC, the European Bank for Reconstruction and Development (EBRD), the Asian Infrastructure Investment Bank (AIIB), Deutsche Investitions und Entwicklungsgesellschaft (DEG), and the French Development Agency\u2019s private-sector investment arm Proparco. The AIIB is chipping in USD 100 mn, and EBRD allocated funding<\/a> for a USD 125 mn loan last month.<\/p>\n

This is a 100% private-sector venture: <\/strong>The three European companies will collectively own 98% of the joint venture, with Hapag-Lloyd holding 39%, and Eurogate and Contship Italia each owning 29.5%. Two Egyptian private sector firms \u2014 Middle East Logistics & Consultants and Ship & CREW Egypt \u2014 each hold a 1% stake.<\/p>\n","protected":false},"excerpt":{"rendered":"

The IFC\u2019s loan will help boost the port\u2019s capacity to 4.7 mn TEUs by the third year of operation<\/p>\n","protected":false},"author":1,"featured_media":73683,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[166],"tags":[444,165,17,549,123],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-73682","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt","tag-debt-watch","tag-enterprise-logistics","tag-port","tag-shipping-maritime","wpautop","entry"],"acf":{"mongo_id":"a5287004-600d-4b76-ac57-508292043eb0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/8\/3312.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Damietta Port\u2019s second container terminal could see a USD 125 mn loan from the IFC","related_issue":[73670],"teaser":"The IFC\u2019s loan will help boost the port\u2019s capacity to 4.7 mn TEUs by the third year of operation","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/9\/.0865d140-bcf8-4736-bcd2-397a905aecc2.mp3"},"yoast_head":"\nDamietta Port\u2019s second container terminal could see a USD 125 mn loan from the IFC - Logistics<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/logistics\/2023\/09\/25\/damietta-ports-second-container-terminal-could-see-a-usd-125-mn-loan-from-the-ifc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Damietta Port\u2019s second container terminal could see a USD 125 mn loan from the IFC\" 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