DP World to develop trade infrastructure in Egypt

dubai - It will develop a new inland container depot in 6th of October City

DP World, Egypt's Holding Company for Maritime and Land Transport and the Suez Canal Authority on Monday agreed a memorandum of understanding (MoU) to develop a new inland container depot (ICD) in Egypt's 6th of October City, a satellite town in the Giza governorate and part of the urban area of Cairo.

The 3 partners will bid for the government contract for the project later this year. The proposed ICD will increase the flow of cargo between ships and major land transportation networks in the country, creating a central distribution point. Under the MoU, DP World will lead and represent the alliance in the bidding process and become the ICD operator if the tender is won.

The MoU was signed by Sultan Ahmed bin Sulayem, DP World Group chairman and CEO; Mohab Mamish, chairman of the Suez Canal Economic Zone; and Mohamed Ahmad Ibrahim Youssef, chairman of the Holding Company of Maritime and Land Transport.

"Developing trade infrastructure to improve hinterland access for goods bound for Africa's growing economic needs is essential. This collaboration builds on our strategic partnership with Egypt and we look forward to working with the SCZone and the government's Holding Company for Maritime and Land Transport to make it happen," bin Sulayem said.

Mamish said this is a constructive step toward realising the strategy of the Egyptian government in developing its marine and dry ports infrastructure.

"It follows the expected future growth of global trade, and the directives of the country's political leadership in preparing Egypt's ports to keep pace with changing global trends."

- business@khaleejtimes.com