The Alex Port Authority signed a contract with Sarie Eldin & Partners as a legal adviser for the planned USD450mn multipurpose platform project of Dock 55 at the Alexandria Port. It is worth noting that the port authority has already signed an agreement with the Suez Canal Authority and the Land Maritime Transport Holding Company to establish a EGP500mn holding company to: i) construct; ii) manage; and iii) operate the platform. Based on our discussion with management, ALCN expects to partake in the container-handling portion of the terminal. 
 
Alex. Containers and Goods: EGP154.25 as of 15 Jul. 2018, Rating: Buy, TP: EGP225.00/share, MCap: USD1,286mn, ALCN EY/ALCN.CA
Ahmed Hazem Maher