Global container companies Hapag Lloyd, Yang Ming, Mitsui, NYK and K-line said on Monday that they will resume their navigation activities in the ports of East Port Said and Damietta in 2018 after they had been suspended in April.
In a statement, the five companies said they will inject new investments in the logistics field in Port Said and Damietta, also announcing that Hapag-Lloyd has opened a new office in Cairo’s Heliopolis as part of its expansion on the Egyptian market.
Speaking to Al-Masry Al-Youm, Minister of Transportation, Hesham Arafat said that the resumption of navigation activities reflect a growing international confidence in the currently ongoing development project implemented by the Egyptian government in the Suez Canal Economic Zone.
Arafat added that following Egypt’s successful negotiations with Hapag-Lloyd, the company said it will expand its activities in Damietta port starting in April next year.
Edited translation from al-Masry al-Youm