The Kuwait Gulf and Link (KGL) transport company on Tuesday announced plans to build a 1-billion- U.S.-dollar container terminal in the Egyptian port of Dumiat.

KGL Vice-President and CEO Fadel Al-Baghli said that a formal announcement would be made soon, saying that the company had concluded a 40-year deal with the Aref Investment company, a Kuwaiti shareholding company, for the sake of constructing the 130 hectare-wide container terminal in Dumiat.

The KGL would design the terminal, which would stretch over a length of 2,360 meters in wharves and be capable of handling 400 meter-long ships and load them with up to 10,500 containers.

The project will be completed in two stages and the first stage will be completed by 2007, when the terminal will handle up to 1.5 million containers per year, according to Al-Baghli.

In addition, the KGL is negotiating a deal to manage two seaports in India and Lebanon respectively. The company is also planning to expand its operations in Nigeria and Zimbabwe, said the report.

The KGL is one of the largest transportation companies in the Gulf region.

Source: Xinhua