Hutchinson Ports has penned a memorandum of understanding with Egypt on the building of a new container terminal in Egypt’s port of Abu Qir.
The new container terminal will be able to handle up to one million containers annually upon completion.
The MOU signing was witnessed by Egyptian president Abdel-Fattah al-Sisi.
The Egyptian president met with Eric Ip, managing director of Hutchison Ports Group, and Clemence Cheng, executive director of Hutchison, in Egypt’s capital Cairo on Tuesday.
Ip said that Hutchison Ports will be training more than 1,500 Egyptian engineers and workers for various jobs on construction of the terminal.
Ip added that the company’s investment in Abu Qir port is an opportunity grabbed from the improved investment climate and infrastructure development efforts by the Egyptian government.
Hutchison Ports currently operate two ports in Egypt – Alexandria and El Dekheila, both located on the Mediterranean Sea.