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Monday, 21 March 2022

CMA CGM eyes investment in Ain Sokhna port

French shipping company CMA CGM is reportedly looking into making an undisclosed investment in the Ain Sokhna port, Al Mal quotes the head of the company’s Sudan and Egypt unit, Tariq Zaghloul, as saying. The company is studying projects related to the Ain Sokhna port to assess whether it aligns with its objective, Zaghloul said, without disclosing further details.

Tahya Misr all-purpose terminal to open in 4Q 2022: The company recently signed an agreement to operate and manage the Tahya Misr all-purpose terminal in Alexandria port, in which it has invested USD 175 mn so far, Zaghloul said. The terminal is expected to be fully operational by the end 2022, receiving its first container ship in October and its first cargo ship next April, according to Al Mal.

Eyes on the Tenth of Ramadan dry port: The company is also bidding alongside Elsewedy Electric for the contract to establish the EGP 3.5 bn Tenth of Ramadan dry port. It is competing with at least three other consortiums.

IN OTHER LOGISTICS NEWS-

The Transport Ministry signed several agreements with Abu Dhabi Ports Group yesterday that will see it manage and operate a multi-purpose terminal in Ain Sokna port and a river port in Minya Governorate, the ministry said in a statement. The Emirati ports operator is bidding for contracts to establish the Tenth of Ramadan dry port and a new cargo terminal at Safaga. If successful, it could invest around USD 500 mn, the company said last year.

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