China Harbor signs MOU On New CT with Damietta Port

A Memorandum of Understanding (MOU) signed yesterday 9th of October 2016 between Port of Damietta Authority and China Harbor for the setup of Damietta Port’s 2nd Container Terminal.

 The new terminal is planned to comprise berths totaling 2225 meters with 17 meters depth and stacking space of 700 000 m2.Project implementation period is 24 months. In parallel to project execution, Port of Damietta Authority will be launching an international tender to select  a highly qualified International CT operator.

 The Chinese Bank is scheduled to finance 85 percent of project cost, while Port of Damietta Authority will have complete ownership of the terminal.

 Feasibility studies conducted in this regard confirm market and economic effectiveness of the new terminal which will greatly enhance already operating national container terminal performance in accommodating latest containerships and hence improve the ranking of Damietta among East Med. Container hub ports.