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Eurogate and Hapag-Lloyd join forces for new Egyptian terminal

German terminal operator Eurogate Group, its affiliate Contship Italia, and German containerline Hapag-Lloyd will develop a new container terminal in the Egyptian Mediterranean port of Damietta under a 30-year concession.

The new Damietta Alliance port is scheduled to open in 2024 Hapag-Lloyd will hold a 39% share, Eurogate 29.5%, and Contship 29.5%. Two local minority partners will each have a 1% interest in the new terminal.

The terminal will be able to handle the largest 24,000 teu ships afloat today and will come with a 3.3m teu annual capacity.

Damietta already has one existing container terminal with a 1.5m teu capacity.

Hapag-Lloyd and Eurogate already operate joint venture terminals in Morocco and Wilhelmshaven.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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