Damietta, Egypt (PortSEurope) September 16, 2019 – European terminal operators Contship and Eurogate have signed a memorandum of understanding (MoU) with Damietta Port Authority to establish a local logistics system, involving the construction of a container terminal, a railway line, a dry port and a distribution area of the goods.
The investment foreseen by the first phase of the project amounts to €750 million ($830.9 million). The local Ministry of Transport hopes that the new logistics facilities will boost exports of Egyptian products, with improved connections with the hinterland.
A feasibility study is scheduled to be completed in four months with the target of having an operational facility be end-2022.
Milan-based Contship Italia S.p.A., through its subsidiaries, provides marine terminal, intermodal transport, and container logistic solutions worldwide. It is part of EUROKAI GmbH & Co. KGaA via a direct holding and Eurogate GmbH & Co. KGaA, KG, also a EUROKAI company.
Eurogate GmbH & Co. KGaA, KG is one of Europe’s largest shipping company, independent container terminal operators and logistics group based in Bremen, Germany.
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