Hutchison Ports announces investment of US$700 million in Egyptian port projects in Sokhna and B100
Hutchison Ports, the global port operator, has announced a significant investment in Ain Sokhna Port, Egypt's major port, and B100, a new container terminal in the Port of Alexandria. The total investment of the two projects is approximately US$700 million, bringing Hutchison Ports’ total investment in Egypt to over US$1.5 billion and paving a solid foundation for the company's strategy to expand its network and enhance its capabilities in emerging markets, according to the company's release.
The investment includes the development of a new container terminal in Ain Sokhna Port with a capacity of 1.7 million TEUs (twenty-foot equivalent units), which will be equipped with state-of-the-art technology and equipment to provide efficient and reliable services to customers. In addition, Hutchison Ports will invest in the development of B100, a new container terminal in Port of Alexandria, which will serve as a gateway to the Egyptian market.
The new container terminal in Sokhna will provide a significant boost to Egypt's maritime trade, as it is strategically located on the Red Sea and offers direct access to major shipping routes. The B100 container terminal, on the other hand, will provide a new gateway to the Port of Alexandria, which is one of the largest ports in the Mediterranean and a key hub for trade between Europe, Asia, and Africa.
Hutchison Ports is the ports and related services division of CK Hutchison Holdings Limited. Hutchison Ports is the port investor, developer and operator with a network of port operations in 52 ports spanning 25 countries throughout Asia, the Middle East, Africa, Europe, the Americas and Australasia. In 2021, Hutchison Ports handled a combined throughput of 88 million TEU.
