8 June 2012

Egypt: Cabinet Approves Establishment of New Container Terminal in East Port Said

Transport Minister Galal Mostafa Saeed announced Thursday 07/06/2012 that the Cabinet approved the building of a new container terminal in Port Said harbour at a cost of USD 3 billion.

The Minister said the cabinet took the decision during its Wednesday meeting. Prime Minister Kamal al-Ganzouri has agreed to globally auction a contract to construct a second container terminal in the port using a build-operate-transfer (BOT) protocol, though he stipulated that 75 percent of the project's funding should be Egyptian, according to the minister.

Saeed pointed out the project is part of the first phase of a development plan for the port.

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