11 February, 2019

China's CRBC to develop container terminal projects in Egypt

Chinese company to develop and operate two multi-purpose terminals on Egypt’s Red Sea coast

Image used for illustrative purpose. Containers are seen at the Yangshan Deep Water Port in Shanghai, China April 24, 2018.

Image used for illustrative purpose. Containers are seen at the Yangshan Deep Water Port in Shanghai, China April 24, 2018.

REUTERS/Aly Song

11 February 2019
Chinese engineering and construction giant China Road and Bridge Corporation (CRBC) will develop and operate two multi-purpose container terminals in Egypt, it was announced early last week.

CRBC is a subsidiary of Fortune 500 firm China Communications Construction Company (CCCC).

The terminals would be located in Nuweiba and Safaga Ports on Egypt's Red Sea coast, CRBC said in a press statement.

The statement said the Nuweiba terminal, spanning an area of 140,000 square metres (sqm), would be developed at a cost of about $400 million and is of China's Belt and Road Initiative (BRI).

The press statement quoted Tariq Mohammed Al-Sayed, deputy director of Nuweiba port as saying the project scope includes construction of container yards, service buildings, internal berths, customs area and related infrastructure.

CRBC Economic Advisor Musallam Othman said in the statement that the terminal in Safaga port would span an area of 500,000 sqm and feature an 800-metre long berth to receive both general cargo ships and containers.

He said the terminal would have an initial annual capacity of half a million containers that could be expanded up to three million containers.

The terminal would cater to and benefit from the development projects in north and central regions of Upper Egypt including the 'Golden Triangle' area, he added without disclosing the cost of the project.

Othman said contracts for both projects are expected to be inked in April 2019 and the construction work would be completed over a three-year period.

(Writing by Eman Hamed; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)


Our Standards: The Thomson Reuters Trust Principles

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

For more data, analytics, tools and news on projects in the Middle East visit the Thomson Reuters Projects portal

© Thomson Reuters Projects News 2019