A European consortium which includes the alliance of Eurojet Germany, Conchepe Italy and Habag Lloyd for International Shipping Lines agreed with Egyptian authorities to inject $500 million in the development of “Tahya Misr 1”; the second terminal at Damietta Port.
Per the agreement, the project includes the construction, development of the superstructure, use, management, operation, exploitation, maintenance and re-delivery of the second “Long live Egypt” container station at the port located 10 km west of the Nile river of Damietta branch westward Ras El-Bar.
A statement issued by the Egyptian government also revealed that the project is the first phase of the project to build the integrated logistics hub of Damietta for containers, the second phase of which will include the creation of a logistics hub from the station to the manufacturing centers in the Republic by railways.
Damietta Alliance Container Station Company, Eurojet Germany, Conchepe Italy, and Habag Lloyd International Shipping Lines who make up the investors, will implement docks for the station, length of 1970 m, depth up to 18 m. The backyard of the station reaches 910 thousand m2, and its absorption capacity is 4.5 million equivalent containers.
The project, according to the statement, is a major Egyptian step in the world trade arena and creates more than 1000 direct and indirect job opportunities.
“The project is the first phase of the project to build the integrated logistics hub of Damietta for containers, the second phase of which will include the creation of a logistics hub from the station (Long live Egypt) to the manufacturing centers in the Republic by railways,” the statement added.
European consortium pledges to invest $500m in development of second terminal at Egypt’s Damietta Port
