Arab Finance: The General Authority for Land and Dry Ports signed a memorandum of understanding (MoU) with Sky Ports to finance, build, and operate a dry port and logistics zone in Borg El Arab, as per a statement.

The MoU falls under the directives of President Abdel Fattah El-Sisi to boost cooperation with both international and local private sector entities across all ministry projects.

Spanning 133 feddans in Borg El Arab City, the project will support the industrial zone in Borg El Arab, as well as trade movement, exports, and imports. It is also expected to reduce congestion of goods and containers at seaports, enhance logistics services, and lower the cost of cargo transportation.

The project will also facilitate the movement and connectivity between manufacturing sites, export ports, and consumption areas while reducing the time required for inspection and customs clearance procedures. It will contribute to reducing road accidents and creating job opportunities for youth.

Commenting on the signing, Minister of Transport Kamel Al-Wazir noted that this deal aligns with the state’s efforts to transform Egypt into a regional hub for transport, logistics, and transit trade.

He added that the ministry aims to establish 33 dry ports and logistics zones across the country, in addition to implementing seven integrated logistics corridors designed to connect industrial, agricultural, and mining areas with seaports.

Moreover, these corridors will serve new urban communities through railway networks, diesel and high-speed electric trains, and major road networks, passing through dry ports and logistics zones located along these routes.