Damietta Container & Cargo Handling Company (DCHC)’s Chairman, Saad Zaghloul, stated that the company's throughput in 2018 is expected to reach 1.32mn TEUs and revenues to EGP1.4bn. Zaghloul also announced DCHC has received four bids on the expansion of the company’s dock from 14.5m to 17m. The four bidders for the project are: i) Ministry of Defence’s Maritime Services; ii) Orascom; iii) Petrojet; and iv) China Harbor. The project’s total cost amounts to EGP650mn and will be implemented over 22 months (expected to start by Jun 2018). Zaghloul also mentioned another project that aims to increase the efficiency of refrigerated containers for a total cost EGP26mn, which is expected to start this month for a duration of six months. The final project announced involves: i) adding three cranes by May 2018 for a total cost USD4.5mn; ii) signing of a contract regarding three more cranes for a total cost USD4.5mn to be delivered over 11 months; and iii) increasing the efficiency of 10 cranes for a total cost of EGP110mn by Jun 2018.  It is worth noting that Canal Shipping Agencies owns a c20% stake in DCHC. (Al Borsa)
 
Canal Shipping: EGP15.31 as of 20 Mar. 2018, Rating: Buy, TP: EGP15.00/share, MCap: USD174mn, CSAG EY/CSAG.CA