Alexandria International Container Terminals

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Alexandria Port Authority awarded a 25 year concession to Alexandria International Container Terminals (AICT) in March 2005 to expand, modernize and manage two terminals at the ports of Alexandria and El Dekheila in Egypt. Under the contract, AICT was expected to convert the existing cargo terminals in each of the ports into modern container terminal facilities. The total project cost was estimated at US$ 86 million. The concession contract was a result of Egyptian Government’s commitment to modernize the port facilities to support the country’s fast growing international trade. AICT was a joint venture between Alexandria Port Authority, Hutchison Port Holding, Arab World for Port Development and Saudi Arabia’s Al Balagha Group. Information on the shareholdings of each partner in the joint venture was not available. The initial phase of construction was expected to be completed in 2007.