The Chairman of the Holding Company for Maritime and Land Transport said on Thursday that his company completed the study of the construction of a second container terminal at East Port Said Port at a total cost of 765 million dollars.
Mohammed Yousuf said in a press statement that Holding Transport is coordinating with the Economic Authority for the Development of the Suez Canal to establish the second container terminal through Port Said Container and Cargo Handling Company.
Youssef said that the holding company is seeking to form an alliance with Port Said for the handling of containers and goods and any of the international lines or alliances for the implementation of the new station.
He explained that the preliminary proposal for the study of the feasibility of the project was completed along the berth 1200 meters and an area of 540 thousand square meters.
He pointed out that the study set the period of construction of the new station in East Port Said by about 36 months and that the rate of internal return of the project to 15%
The Chairman of the Suez Canal Authority, Mihab Mamesh, signed a memorandum of understanding with the Executive Director of Singapore Ports Group to manage, operate and market a new container terminal at East Port Said Port.
The company provides technical assistance in the development and marketing of container terminal.
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