China’s Cosco Shipping Port to buy a stake in Egypt’s Sokhna Terminal
Entrance to the port of Hurghada

China’s Cosco Shipping Ports (CSPL), a Hong Kong-based global ports operator, intends to buy a 25% stake in a new container terminal in Sokhna, Egypt, to improve trade links between China and Africa. The Egyptian government will build the new terminal and operate by firms, including CSPL. The deal is valid for 30 years with a total investment of USD 375 million.