Egypt's Government pledges $32mln for Damietta dry port
The authority signed a MoU with El Didi Group and Gama Construction last November to conduct the feasibility study of the port
Image used for illustrative purpose. Container trucks stand in line on the road due to bad weather in the Mediterranean city of Alexandria, March 30, 2019.
REUTERS/Amr Abdallah Dalsh
By Staff Writer, Arab Finance
Egypt’s Ministry of Finance allocated EGP 514 million to implement infrastructure works at Damietta dry port, Al Borsa News cited an unnamed source of the General Authority for Land and Dry Ports on March 1st.
The amount has been scheduled for repayment over five years.
The authority signed a memorandum of understanding with El Didi Group and Gama Construction last November to conduct the feasibility study of the port.
Another dry port in 10th of Ramadan City received funding from the European Bank for Reconstruction and Development to support its establishment.
In December 2020, the parliament approved building a dry port in 6th of October City in partnership with the private sector.
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