SIMIC

COSCO Shipping Ports announced an investment of a 25 per cent stake in a new container terminal at Egypt's Ain Sokhna Port, reports the UK's Seatrade Maritime News.
Hutchison Ports has also announced its plans to invest in Ain Sokhna Port, 120 kilometres east of Cairo.
The project will have a 30-year operating period with a total investment of US$375 million and a throughput capacity of 1.7 million TEU after completion.
The Port of Sokhna, one of Egypt's major ports, is situated south of the entrance to the Suez Canal, serves as a gateway for trade between the east and west while being located near the northwest of the Suez Canal Economic Zone.
"As a leading global ports operator,we are continuing to improve our global terminal network' is one of Cosco Shipping Ports' most important development strategies," said Cosco Shipping Ports.
"Currently, the company already has a non-controlling terminal in Egypt, the Port Said Suez Canal Terminal, and the investment in Sokhna Port will help the company improve its terminal network in the regions, as well as optimise the company's global layout."