Hassan Allam Utilities, the investment and development arm of Egypt’s Hassan Allam Holding, and Agility, the Kuwait-headquartered industrial development company, have announced a joint venture, YANMU, to develop, build and operate modern logistics parks and Grade A warehousing facilities in Egypt.
The JV’s first park, YANMU East Logistics Park, will open in August 2023, Agility said in a press statement.
The 270,000 square metre (sqm) site is located on the new Cairo-Suez Road.
A second park, YANMU West Logistics Park, is planned to launch in 2024, the statement noted.
“YANMU will offer Egypt's most modern, efficient, and sustainable warehousing. We are proud to have strategically partnered with Agility, which has nearly four decades of experience in developing and operating Grade A warehousing across the Middle East, Africa, and Asia," said Amr Allam, Chairman of Hassan Allam Utilities
Agility Vice Chairman Tarek Sultan said: "When it comes to warehousing capacity and distribution capability, Egypt is underserved. YANMU will fill the gap with modern, efficient infrastructure that is going to power growth domestically and strengthen Egypt's role as a vital trade partner and crossroads.
YANMU parks are designed to meet the storage and distribution needs of companies in e-commerce, manufacturing, consumer products, food and beverage, technology, automotive, energy, industrial goods, healthcare, pharmaceuticals and other sectors. They incorporate sustainable design, including solar rooftops and other features that reduce power and water use and increase operational efficiency.
In October 2022, Agility announced that is investing roughly $60 million to develop and operate two customs and logistics centres in the Suez Canal Economic Zone to improve the flow of goods and commodities in the Ain Sokhna industrial zone and at East Port Said.
In September 2022, Hassan Allam Utilities signed two concession agreements to develop and operate strategic warehouses for the Internal Trade & Development Authority (ITDA) in the governorates of Luxor and Sharqiyah under a BOOT scheme.
(Writing by Marwa Abo Almajd; Editing by Anoop Menon)