Egypt lines up 80 logistics projects costing $6.6bln

Egypt lines up 80 logistics projects costing $6.6bln

Egypt has lined up nearly 80 projects in the transportation sector, covering port development, container terminals, cruise berths, marine passenger terminals, multimodal transport, river ports and metro, offering investment opportunities to the private sector, according to minister of transport Kamel El-Wazir.

These projects, under construction or in the planning stages, are estimated to cost about 129 billion Egyptian pounds ($6.6 billion).

“Almost 60 per cent of the loans borrowed by Egypt during the past three years were directed to the transportation sector,” the minister said at an event on Monday.

The minister said Egypt will soon sign agreements with UAE’s Abu Dhabi Ports Group to manage and operate Safaga Terminal 2 in Safaga Port, and with Qatar’s Al Maha Capital Company to participate in the management and operation of container terminals in Port Said and Damietta ports.

Participating in the private sector partnership opportunities session, the minister said the government is looking at amending existing laws to attract more private sector investment in the transportation sector.

He reviewed policies and projects that have been under way, their implementation progress, investment and partnership opportunities for the private sector in various transportation sub-sectors.

“The ministry of transport is discussing the amendment of the River Transport Authority Law,” he