Egypt’s Cabinet nods to setting up $500mln free zone for state-owned EGMPT

Reuters Images/Al Youm Al Saabi Newspaper

The free zone will be set up for handling containers and general cargo on a 539,000-square-meter (sqm) terminal at Alexandria Port

Staff Writer, Arab Finance

April 8, 2022

EGYPT LOGISTICS

PHOTO

ArabFinance: The Egyptian Cabinet has approved the establishment of a free zone for the Egyptian Group for Multi-Purpose Terminals (EGMPT) at an estimated investment cost of $500 million, according to a recent official statement.

The free zone will be set up for handling containers and general cargo on a 539,000-square-meter (sqm) terminal at Alexandria Port.

Moreover, the project will be 100% financed by Egyptian investments.

The Alexandria Port Authority, the Suez Canal Authority, the Holding Company for Maritime and Land Transport, and Alexandria Container and Cargo Handling Company (ALCN) are contributing to the project.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.