Cairo — Mubasher: Red Sea governor Ahmed Abdullah has approved the allocation of a 432,000-metre land plot for the favour of the Red Sea Ports Authority to set up a container terminal in the Safaga Port.
The two-phase terminal is to receive cargo ships and containers with total investments of $450 million, the state-run port authority said in a statement.
The project’s first phase entails constructing an 800-metre pier with a capacity of 2.8 million tonnes of containers, while the second phase includes building a 400-metre pier with a capacity of 1.5 million tonnes of cargoes per year, increasing to 5 million tonnes, the statement said.
The Egyptian body said that the project is part of the “Golden Triangle Development Project” in the Red Sea Governorate and Upper Egypt.
The new terminal will contribute to attracting further investments in the industrial, logistics, warehousing, installation and assembling fields, as well as transferring containers and cargoes from the Upper Egypt to the port of Safaga, it noted.
On Wednesday, the Red Sea Ports Authority signed a memorandum of understanding (MoU) with China Road and Bridge Corporation (CRBC) for the establishment of the new container terminal.
In mind-November, the authority had laid the foundation stone of the project, whose timetable was not revealed.
