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Hapag-Lloyd forms an alliance to operate a new container terminal in Egypt
Posted on May 16, 2022 |
- Hapag-Lloyd, Eurogate, and Contship Italia formed the ‘Damietta Alliance Container Terminal S.A.E.’ to operate a new container terminal in Egypt.
- The new Terminal 2 at the Port of Damietta will be operational by 2024 and it will have a total operational capacity of 3.3 million TEU and serve as Hapag-Lloyd´s transshipment hub in the East Mediterranean.
- The concession to operate the plant will be given to the joint venture for 30 years and Hapag-Lloyd Damietta GmbH will have the majority shareholder (39 %), while Eurogate Damietta GmbH and Contship Damietta Srl will each hold 29.5%, and the two other partners, Middle East Logistics & Consultants Group and Ship & C.R.E.W. Egypt S.A.E. will hold the remaining 2%.