Helmy, Hamza & Partners, Baker McKenzie Cairo office, recently advised Hutchison Ports, the world’s leading port network, on its agreement with Egyptian Navy to develop and operate a new container terminal in Abu Qir, Egypt.The total investment value in developing the new terminal is estimated to reach US$ 730 million.
Under the terms of this long-term agreement, the greenfield project will be funded primarily by a joint investment of the two partners in phases, with a handling capacity of 2.0 million TEU upon completion.
Commenting on this milestone partnership, Mohamed Ghannam, Managing Partner and Head of Projects at Helmy, Hamza & Partners, Baker McKenzie Cairo said: "We are extremely delighted to have this opportunity to legally assist and advise Hutchison Ports on this landmark transaction. The Covid-19 pandemic has created an unprecedented situation across businesses worldwide, however representing Hutchison Ports in this one of a kind transaction during such challenging times reflects the depth of our team’s legal expertise in the region."
The new terminal will be located inside the Abu Qir Naval Base, at the northern end of the Suez Canal.
The Helmy, Hamza & Partners, Baker McKenzie Cairo team was led by Managing Partner Mohamed Ghannam and Partner Lamyaa Gadelhak, supported by Senior Associate Sameh Dahroug and Associate Mohamed Rasekh. They were assisted by Equity Partner Neil Donoghue and Senior Associate Tania Arora from London office.