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Article: Egypt expands port, to tender new terminal in 2010.
- Article from:
- Daily News Egypt (Egypt)
- Article date:
- November 1, 2009
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CAIRO: Egypt will issue a tender in 2010 to build a third container terminal at East Port Said on the Mediterranean to help attract over $5 billion in investment in port and related services by 2030, the Transport Ministry said.
Egypt, which controls the vital Suez Canal trade route, is seeking to boost infrastructure investment to push annual economic growth back above 7 percent in the next two years, matching the level it reached before the world economic crisis.
East Port Said has one terminal operating now, handling 2.4 million twenty-foot equivalent units (TEUs) in 2008, roughly 40 percent of Egypt's total container traffic of 6.08 million TEUs. ...