Bolloré Transport & Logistics, Toyota Tsusho Corporation (TTC) and Nippon Yusen Kaisha (NYK) plan to invest USD150 million to develop and operate a ro-ro terminal in Port Saïd, Egypt.
During December, Bolloré, TTC and NYK signed a concession agreement with the Suez Canal Economic Zone for the future ro-ro terminal.
The consortium will use the investment to acquire equipment and develop infrastructure at the site, with the goal of creating a terminal capable of handling 800,000 vehicles per year.
“This terminal will provide the automotive industry with quality services for the import, export and transfer of vehicles to neighbouring countries,” said Yehia Zaki, president of the Suez Canal Economic Zone. He added that the government plans to develop Port Saïd into a major transhipment hub in the Eastern Mediterranean.