Monday, March 20, 2023

Chinese Company Buys Shares in Another Egyptian Port Terminal

 YiCai Global published on 16 March 2023 an article titled "China's Cosco Shipping Ports to Buy 25% of Egypt's Sokhna Terminal to Boost Africa Trade" by Xu Wei.

Cosco Shipping Ports intends to buy a 25 percent stake in a new container terminal in Sokhna, Egypt, to improve trade links between China and Africa.  The terminal in Sokhna, located on the western coast of the Gulf of Suez, will be built by the Egyptian government and operated by firms including Cosco Shipping Ports.