Toyota Tsusho Corporation ("Toyota Tsusho"), in a consortium with Bolloré Africa Logistics ("Bolloré") and Nippon Yusen Kabushiki Kaisha ("Nippon Yusen"), has signed an agreement with the General Authority for the Suez Canal Economic Zone to set up and operate a dedicated automotive terminal at East Port Said in Egypt on December 19, 2019.

The automotive market in Egypt is expanding due to both population growth and economic development. Import vehicles will therefore follow this trend. Alexandria Port is currently handling most of Egypt's imported vehicles. However, as a multipurpose port, it suffers from chronic issues such as a limited and non-dedicated storage area for vehicles. A new dedicated automotive terminal is therefore required for Egypt to meet the increasing vehicle demand.

As Egypt's first dedicated automotive terminal, this terminal has a wharf area which allows two large pure car carrier vessels to berth simultaneously and sufficient vehicle storage space. A joint operating company to be established soon by the three companies will start operation of the terminal by the end of 2021.

Bolloré's knowledge and expertise accumulated through its several port operation business, Nippon Yusen's rich experience and skill in vehicle terminal operation developed at various parts of the world, and Toyota Tsusho's achievements and knowledge from more than 80 years of developing a wide range of businesses in Egypt are combined through this strategic partnership of the three companies to provide high-quality service.

Toyota Tsusho undertakes transportation infrastructure business--such as ports and airports--centered on Asia, the Middle East, and Africa. Toyota Tsusho will contribute to the development of Egypt's automotive industry and economy through this terminal operation business.