Hutchison Ports Expands Investment in Egypt with New Concessions assisted by Baker McKenzie
Baker McKenzie, the global law firm, provided advice to Hutchison Ports, a well-known port investor, developer, and operator, on two new concessions in Egypt, along with associated shareholding arrangements.
The investment, valued at around US $700 million, will involve the construction of a new container terminal in Ain Sokhna Port with a capacity of 1.7 million TEUs and the establishment of B100, a new container terminal in the Port of Alexandria.
These two ventures increase Hutchison Ports’ total investment in Egypt to over US $1.5 billion, representing a significant milestone in the company’s strategy to strengthen its presence in emerging markets.
Equipped with cutting-edge technology and equipment, the container terminal at Ain Sokhna Port will provide dependable and effective services to customers.
In the meantime, the creation of B100 will function as a gateway to the Egyptian market. The fulfilment of the project is contingent upon standard conditions.
Hutchison Ports received guidance on this enterprise from a team at Baker McKenzie headed by London Corporate partners Richard Blunt and Susie Davies and Cairo partners Lamyaa Gadelhak and Hani Nassef.
The team comprised senior associate Matthew Gamble, Associates Lesley-Anne Wilson and Julie Chemla from London, as well as Partner Keith Jones and senior associate Anthony Gamble from the Antitrust team in London. Noureldin Elhayatmy, an associate from Baker McKenzie Cairo, also assisted the team.
By undertaking this strategic move, Hutchison Ports will reinforce its standing in the area, in addition to opening up significant opportunities for economic growth and development in Egypt.