Capture d’écran 2024 03 05 à 11.05.26
#Company #Economy #Industry #Port #EGYPT #TURKEY
Agence Ecofin
Tuesday 9 April 2024 Last update on Tuesday, April 9, 2024 At 10:58 AM

This project comes in addition to the numerous investments announced in the port and logistics sectors to enable Egypt to take full advantage of its strategic geographical position between the Mediterranean and the Red Sea.

Egypt has announced the signing of a memorandum of understanding with the Turkish group DOGUS to build an industrial zone costing around USD 7 billion. The project will be developed around the port of Jarjoub and will include free trade and logistics zones, a multipurpose freight terminal, a passenger terminal, a marina, an industrial zone and rail links. 

The protocol provides for 6 months to complete the studies, start the procedures for implementing the project and obtain the necessary approvals. This agreement follows that signed at the end of November 2023 with the South Korean company STX to develop logistics infrastructures in the same port, including a used car assembly plant, an oil pipeline between Libya and the port of Jarjoub, etc.

If these investments are realised, they will provide the port with integrated infrastructure to implement the Egyptian government’s plan to transform it into a major hub for port and logistics services. This is in line with the ambition to establish a key port network via the Mediterranean and Red Sea ports, in order to provide integrated logistics services for shipments to and from this region.

The aim is to further develop the port industry, which accounts for around 90% of the country’s trade volumes.

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