GERMAN shipping giant Hapag-Lloyd is engaged in the ‘Damietta Alliance’ to develop and operating a new container terminal in Damietta, Egypt, near the Mediterranean end of the Suez Canal, reports Lloyd’s List.
The new terminal will be built as ‘Terminal 2’ in a Joint Venture with hapag holding 39 per cent, Eurogate Damietta Gmb holding 29 per cent and Contship Damietta 29.5 per cent. Two other partners, Middle East Logistics & Consultants Group and Ship & CREW Egypt SAE, will each hold one per cent.
The new Terminal 2 at the port of Damietta is expected to start operations by 2024. It will have a final total operational capacity of 3.3 million TEU and serve as Hapag-Lloyd
