The signing of the concession contract with the Bolloré Toyota Tsusho NYK global consortium on Thursday (photo courtesy of Egyptian Cabinet)
Chairman of the Suez Canal Economic Zone (SCZone) Yehia Zaki signed a concession contract with the Bolloré Toyota Tsusho NYK global consortium for establishing and operating East Port Said Ro-Ro terminal with BOT system.
The contract will be submitted to the Cabinet then to the House of Representatives to be endorsed.
This came after President Abdel Fattah El-Sisi opened the new quays in East Port Said harbor and July 3rd tunnels in southern Port Said in November as part of the Egyptian state's approach to work on developing the economic zone and enhancing the value of the country's economy.
Under the contract, the global consortium will have the right to use 66-m-long quay in the western side and operate the Ro-Ro terminal on an area of 270,000 square meters, the SCZone chief said.
The consortium said it will pump $150 million investments in equipment and infrastructure of the project so as to be capable to handle about 800,000 vehicles at the station.