Egyptian authorities have confirmed their intention to enter into a long-term partnership with CMA CGM for the operation and management of Pier 55, port of Alexandria’s upcoming multi-purpose terminal. Operations are scheduled to start in 2022, Invest-Gate reports.
“The agreement of Pier 55 is in line with the Group’s development strategy in Egypt. This project strengthens CMA CGM’s service offerings in the fields of maritime transport and logistics in a country that boasts a strong economic potential,” the statement reads.
It covers an area of 560,000 sqm with quays of over 2 km in length, with a capacity of 1,5 mn TEUs (Twenty-Foot Equivalent Units), and facilitates the deployment of the Group’s larger vessels. Through this ambitious partnership, the terminal will connect Egypt to new regions and boost CMA CGM’s presence in the Mediterranean, according to the statement. This partnership also includes the development of logistics solutions digitalization, the contribution to the training of younger generations in maritime and logistics, and other investments as well.
This came during a meeting with Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group, and the Egyptian President, Abdel-Fattah El-Sisi, Prime Minister Mostafa Madbouly, and Minister of Transport Kamel El-Wazir, where they agree on the development of CMA CGM’s operations in Egypt, according to a company press release.
CMA CGM Group is a major contributor to Egypt’s maritime and logistics development and has been present in Egypt since 1995.
The Group’s current footprint in Egypt further includes around 300 CMA CGM and CEVA Logistics employees working from six offices, 17 weekly calls to six ports, linking the country to the rest of the world with more than 1,400 calls yearly, with 712 vessels crossing the Suez Canal, and a major gateway for global trade.
In 2020, the CMA CGM Group reinforced its offerings with the expansion of the Jeddex service in July, covering the Port of Ain Sokhna while connecting the USA, the Mediterranean, Europe, Kenya, and Somalia and improving transit time from Egypt to Mogadishu and Mombasa, the statement elaborates.
Furthermore, in November, the CMA CGM Jacques Saadé (23,000 TEU), the world’s first and largest LNG Powered, vessel crossed the Suez Canal on her maiden voyage on the Group’s iconic French Asia Line (FAL 1), connecting Asia with Europe.
“The Company can now provide its clients with a complete end-to-end service to complement its existing maritime activity,” the statement concludes.