25 October 2020 10:32 AM

PM witnesses signing of contract to build multi-purpose terminal at Alexandria port

Thursday، 17 September 2020 - 11:45 PM

Prime Minister Mostafa Madbouli on Thursday witnessed the signing of a financing contract to build a multi-purpose terminal at Alexandria port, at a total value of EGP 5 billion.

The project will be funded by the Egyptian Group for Multipurpose Terminals (EGMPT), and a banking alliance comprising the National Bank of Egypt (NBE), Banque Misr and the Commercial International Bank (CIB).

The signing ceremony was attended by Planning Minister Hala el Saeed, Finance Minister Mohamed Maait, Public Business Sector Minister Hisham Tawfiq, Transport Minister Kamel el Wazir and Chairman of the Suez Canal Authority Osama Rabie.

The transport minister said the project constitutes a pioneering experience in the field of maritime transport in Egypt.

Wazir added that the multi-purpose terminal is built on an area of over 500,000 square meters and contains quays with a length of 2,500 meters and a depth of 17.5 meters, enabling the port to receive giant merchant ships.

He went on to say that the terminal establishment comes as part of the Transport Ministry's plan to increase the portion of river and rail transport by 10%, and raise the efficiency of the transport sector.

The terminal will start operation at the beginning of 2022, he noted.

The transport minister said the project is expected to secure more than 1,500 direct job openings and 2,500 indirect ones.


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