A consortium led by Toyota Tsusho Corp, a unit of Japan's Toyota Group, signed a deal to set up and operate a roll-on, roll-off vehicle terminal at East Port Said in Egypt, the Suez Canal Economic Zone (SCZone) said.
The consortium, which also includes Bollore Africa Logistics and Nippon Yusen Kaisha, will develop and operate a 600-metre quay and a new 21.2-hectare terminal for the import, export, and transshipment of vehicles, the statement said.
It will invest $150 million in equipment and infrastructure to enable the terminal to handle 800,000 vehicles a year, plus an annual $233 million for the operating concession, the statement quoted SCZone chairman Yehia Zaki as saying.
Like every other pandemic that the world has experienced in the past, coronavirus will eventually come to an end.
It will be defeated, and life return to normal.
But it will teach us an important lesson: the need to invest in health infrastructure across the world, and particularly in Africa, writes Babatunde Omilola, manager for public health, security and nutrition division at the African Development Bank Group (AfDB).
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