Germany-based Eurogate and its affiliate Contship Italia have signed a MoU with Damietta Port Authority for a turnkey development
The MoU covers a new deep sea container terminal, a railway line, dry port and distribution centre. Project first phase is estimated at €750M.
This will be Eurogate/Contship’s first imp/ex container terminal project in the Med, as the group’s Limassol and TangerMed concessions are aimed at transshipment.
The Egyptian Ministry of Transport envisages a strong boost for the exports through the new improved hinterland connections and DC/dry port activities. The container terminal should become operational by the end of 2022.
The MoU was signed by Cecilia Battistello-Eckelmann for Contship, Thomas Eckelmann for Eurogate and Egypt’s Minister for Transport Lt-Gen Kamel El-Wazir.
The existing container terminal, operated by state-owned Damietta Container & Cargo Handling Company, is capable of handling vessels up to 14,000 TEU.