Cairo – Mubasher: Alexandria Container and Cargo Handling Co. announced the completion of works of the first phase of the pier 96 deepening project at a length of 400 metres at the Dekheila container terminal. 

Dredging works have reached a draft depth of 15.5 metres and a pier depth of 16.5 metres, the company said in a bourse disclosure on Sunday. 

The first phase of the pier has come into service as of 7 November 2020 at a total cost of EGP 265 million. 

Work is underway in the second phase at a length of 350 metres, of which 200 metres have already been completed. The second phase has an estimated cost of EGP 261 million. 

The entire project is expected to be completed in May 2022. 

During fiscal year (FY) 2020/2021, Alexandria Container and Cargo Handling Co recorded net profits of EGP 1.40 billion, down from EGP 1.49 billion in FY19/20.