Arab Finance: Egypt Marine Ports (EMP), the commercial arm of the Ministry of Transport, inked agreements with the Suez Canal Economic Zone (SCZONE) to establish, manage, and operate cargo handling terminals in Egyptian ports, according to a statement.
Under the directives of President Abdel Fattah El-Sisi, the agreements aim to develop all Egyptian ports and transform Egypt into a regional hub for transport, logistics, and transit trade.
They align with the government’s objectives to increase the capacity of these ports to attract investments and accommodate the growing volume of trade.
Minister of Industry and Transport Kamel El-Wazir witnessed the signing of a licensing agreement to operate berth number (22), allowing the loading, unloading, handling, and storage of general cargo and clean dry bulk cargo for 18 months.
This will accelerate operations and maximize the utilization of the existing infrastructure at Ain Sokhna Port.
Both parties also inked a memorandum of understanding (MoU) to conduct the needed studies, including feasibility and market studies, in addition to completing all coordination and obtaining the required approvals within an 18-month period.
This agreement is ahead of a commitment contract to build, operate, maintain, develop, and deliver a clean dry bulk and general cargo terminal at Ain Sokhna Port.
El-Wazir pointed out that the ministry aims to increase the number of companies operating in all sectors of maritime transport at Egyptian ports, including the Ain Sokhna Port, contributing to boosting Egypt's share of the global transit trade market.
For his part, Walied Gamal El-Dein, Chairman of the SCZONE, affirmed that this project is enhancing the operational efficiency of Ain Sokhna Port to make it one of the most important ports for handling general cargo and clean dry bulk cargo in the region.
The authority is exerting efforts to attract key investments that contribute to diversifying activities within the port and meeting the needs of the growing trade volume, Gamal El-Dein mentioned.
