Damietta Alliance Container Terminal: Final financing contract signed

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Damietta Alliance Container Terminal (DACT) Damietta Alliance Container Terminal (DACT) has signed its final contract of financing for its container terminal that is state-of-the-art situated in Damietta, Egypt. The financing consortium consists of international development banks like the European Bank for Reconstruction and Development (“EBRD”), the International Finance Corporation(“IFC”), Asian Infrastructure Investment Bank (“AIIB”), DEG and Proparco.

The official signing ceremony of the contract took place on yesterday at the New Administrative Capital Cairo at the Ministry of Transport in presence of the Transport Minister of Egypt as well as the Minister of International Cooperation of Egypt, and the German Ambassador. All the lending institutions, DACT’s leadership team, as well as the consortium partners gathered in celebration of this event in the process’s progress.

“We feel extremely privileged of the fact that this group of internationally renowned development institutions such as EBRD, IFC, AIIB, DEG and Proparco is helping Damietta Alliance Damietta Alliance consortium with know-how in addition to an innovative financing plan that is specifically designed to meet the needs of the venture,” stated Tom Eckelmann who is the CEO of EUROGATE Group.

“Our investments in the new terminal is aimed at opening up new markets, and help stimulate economic growth in this region. The upgraded infrastructure will greatly increase our transshipment activities on East Mediterranean markets. East Mediterranean market and at the same time improve accessibility to local Egyptian market” stated Rolf Habben Jansen, CEO of Hapag-Lloyd AG.

The construction of infrastructure in progress, the DACT staff of the management team at DACT is working already on Damietta. The opening to the terminal’s operation is planned for 2025, the year that it will be completed which will result in a total operating capacity in the range of 3.3 million tonnes of TEU. It will be Hapag-Lloyd’s designated strategically-planned transshipment hub within the East Mediterranean.

The Joint Venture, “Damietta Alliance Container Terminal S.A.E.,” consists of three shareholders who are the core Hapag-Lloyd Ltd. (39 percent), Eurogate Damietta GmbH (29.5 percent) and Contship Damietta Srl (29.5%). Furthermore, Middle East Logistics & Consultants Group as well as Ship & C.R.E.W. Egypt S.A.E. each holds a one percent part in the company.

For further information, click here.

Nils Haupt

Hapag-Lloyd AG

Tel. : +49 40 3001 – 2263

Email: Nils.Haupt@hlag.com

Steffen Leuthold

EUROGATE

Tel. :+49 421 1425 – 3803

Email: Steffen.Leuthold@eurogate.eu

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Source: The Plantations International Agroforestry Group of Companies