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Sunday, 22 December 2019

Bolloré, Toyota and NYK sign a final contract to build a roll on roll off terminal at East Port Said

INVESTMENT WATCH- Toyota Tsusho-led consortium to build a USD 150 mn vehicle terminal in SCZone: The Suez Canal Economic Zone (SCZone) signed on Thursday a USD 150 mn contract with a consortium led by Japan’s Toyota Tsusho to build, operate, and transfer a roll-on roll-off vehicle terminal at East Port Said, according to a cabinet statement. The consortium, which also includes France’s Bolloré Transport & Logistics and Nippon Yusen Kaisha (NYK), will develop and run a 270k sqm terminal and 600 meter platform for the import, export, and transshipment of around 800k vehicles, SCZone CHairman Yehia Zaki said in the statement. The SCZone will receive an annual payment of USD 233 mn from the consortium, the statement noted. Reuters also has the story.

Background: The SCZone had signed an initial USD 220 mn agreement last year with the consortium to build the terminal under a build-operate-transfer framework. The final contracts were expected to be signed back in October 2018.

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