The project involves setting up and running a multi-purpose terminal on berths 55-62 on Alexandria Port on an area of 539,000 square meters at an investment cost of nearly $500 million.
The terminal will handle container ships and cargo vessels.
The Alexandria Port Authority, the Suez Canal Authority, the Holding Company for Maritime and Land Transport, and the Alexandria Container and Cargo Handling Company are participating in the project.
CEO of the General Authority for Investment and Free Zones Mohamed Abdel-Wahab said that the establishment of the multi-purpose terminal in Alexandria Port will equip the port to receive modern ships, which need navigation lanes at great depths.
Abdel-Wahab added that the new project will make the port compatible with international standards and increase the classification of Alexandria port regionally and globally.