The container and logistics subsidiaries of Egypt's Holding Company for Maritime and Land Transport (HCMLT) have submitted their bid for the third container-handling station at East Port Said harbor, the company's chairman told Zawya.
"The cost of the third station has been placed at approximately EGP 3.8 billion and is expected to reap substantial economic benefits for the country. It is the first of a series of projects aimed at developing the Suez Canal and its surrounding areas," said Mohamed Youssef, chairman of Company for Maritime and Land Transport.
Earlier, Egypt's ministry of transport announced an international call for tendersfor the construction of a second container station in the East Port Said harbor, located north-east of Cairo and covering an area of 100,000 square kilometers with a platform extending 1,200 meters in length.
The ministry of transport's bidding policy requires that 75% of the invested capital be Egyptian, in addition companies taking part in the bid must also be 100% owned Egyptian entities, operating for at least 15 years in the container handling industry.
Bidders are also required to be backed by 25% capital from an international maritime line or a global container port, with the granted concession lasting for 36 years. In addition, platforms have to be designed with a backspace of 600,000 square meters, length of 1,200 meters and a presumptive service of 100 years.
HCMLT, a government-backed joint stock holding firm, has a strong presence in the domestic maritime industry. It is currently in the process of acquiring a majority stake 55.7% in Alex Container and Cargo Handling Company. Among its existing assets include a 40.8% stake in Port Said Container and Cargo Handling Company and a 42% share in Damietta Container and Cargo Handling Company.
© Zawya 2013
