Egypt’s Suez Canal Economic Zone (SCZone) signed on Thursday a deal with a consortium of three international and major players to establish a RO-RO terminal in East Port Said.
The ceremony of signing the contract took place in Cairo in the presence of SCzone’s chairman Yehia Zaki; Olivier De Noray, Bolloré Africa Logistics’ managing director; and Hiroki Namikawa, Toyota Tsusho’s general manager.
The consortium included Bolloré Africa Logistics – first private port operator in Africa – and Nippon Yusen Kaisha – worldwide leader in shipping and logistics provider.
The companies also involved Toyota Tsusho Corporation, which is major trading player in Africa, present in Egypt since 1933.
“The three shareholders are willing to commit to the development and the operation of a 600 million quay and 21.2 ha (212,000 square metres) new terminal dedicated to vehicles in East Port Said.” Yehia Zaki said.
This new terminal aims to provide the automotive industry with a state-of the-art services and efficient operation processes for import, export, and transshipment of vehicles, Zaki added.
The concessionaire will invest around $150 million in equipment and infrastructure to handle close to 800 000 vehicles, he said.
SCZone will receive annual payments from the concessionaire amounting to around $233 million in total with a direct employment power of around 400 person, in addition to around 1000 workers as an indirect employment.
As for SCZone, it is an audacious mega project along the Suez Canal, developed in line of a strategic national vision to capitalize on one of the world’s most important maritime routes.
