{"id":79214,"date":"2024-06-13T00:00:00","date_gmt":"2024-06-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/06\/13\/chinas-cosco-to-invest-usd-375-mn-in-egyptian-ports-this-year\/"},"modified":"2024-06-13T00:00:00","modified_gmt":"2024-06-13T00:00:00","slug":"chinas-cosco-to-invest-usd-375-mn-in-egyptian-ports-this-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/06\/13\/chinas-cosco-to-invest-usd-375-mn-in-egyptian-ports-this-year\/","title":{"rendered":"China\u2019s Cosco to invest USD 375 mn in Egyptian ports this year"},"content":{"rendered":"

<\/strong>Shanghai-based shipping company Cosco Shipping Line will invest USD 375 mn <\/strong>to <\/strong>increase its container capacity at various Egyptian ports this year<\/strong>, Ashraq Business<\/a> quotes Cosco\u2019s CFO Zhao Fengnian as saying. The new investments will include further investments in Ain Sokhna. No further details were disclosed.<\/p>\n

Cosco has history in Sokhna\u2026: <\/strong>Cosco and Hong-Kong port operator Hutchison Ports were among the companies that signed agreements worth USD SD 1.6 bn<\/a> in March 2023 to develop new container terminals at Ain Sokhna and Damietta Ports. <\/p>\n

\u2026 And elsewhere in the region: <\/strong>Cosco subsidiary Cosco Shipping Port (CSP) partnered with Abu Dhabi Ports<\/a> in 2018 to launch CSP Abu Dhabi Terminal at Khalifa Port, which has a design capacity of 2.5 mn TEUs and initial handling capacity of 1.5 mn TEUs. The shipping firm also launched its first Moroccan<\/a> branch in Casablanca earlier this year.<\/p>\n

All eyes on Ain Sokhna: <\/strong>China\u2019s Culines<\/a> is reportedly launching a new service connecting Egypt to Chinese ports, and Emirati port operator DP World has broken ground on its USD 80 mn<\/a> logistics zone at Ain Sokhna as part of the USD 1.3 bn multipurpose terminal at Ain Sokhna port. <\/p>\n","protected":false},"excerpt":{"rendered":"

The investment aims to increase the capacity of Cosco\u2019s containers across Egyptian ports.<\/p>\n","protected":false},"author":1,"featured_media":79215,"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":[45],"tags":[49,44,37],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-79214","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-egypt","tag-investment-watch","tag-ports","wpautop","entry"],"acf":{"mongo_id":"e4f3c642-b3e7-42c0-a436-ac22a8958d92","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/6\/1267.jpg","photo_position":"above","homepage_title":"","full_issue_title":"China\u2019s Cosco to invest USD 375 mn in Egyptian ports this year","related_issue":[79207],"teaser":"The investment aims to increase the capacity of Cosco\u2019s containers across Egyptian ports.","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.d8e55875-28a3-41e0-8b2c-bddbff2a788a.mp3"},"yoast_head":"\nChina\u2019s Cosco to invest USD 375 mn in Egyptian ports this year - 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