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Egypt, France Discuss Boosting Transport Cooperation

Egypt, France discuss boosting transport cooperation

Alexandria, Egypt (PortSEurope) October 15, 2020 – In Cairo, Transport Minister Kamel Al Wazir welcomed the French Ambassador, Stephane Romatet, the commercial counselor with the French Embassy, and the regional director of Agence Française de Développement (AFD). During the visit, Romatet asserted the embassy’s strategy to consolidate bilateral relations between France and Egypt. Various fields of transport are under discussion. Currently, French companies are involved
in major project such as the third phase of Cairo metro line, which is constructed by a consortium grouping France’s Vinci with Egypt’s Orascom and Arab Contractors. France extended its willingness to help with the electrification of the Tanta/Mansoura/Damietta line signals, and doubling the preexisting line between Damietta and Mansoura. Possible future projects are upgrading Abu Qir tram into a metro line, rehabilitating El Raml tram and other rail infrastructure. Also in play is the multi-purpose terminal project in Alexandria Port considered a promising investment opportunity. International companies have been invited to tender for operational and management contracts as the port seeks to raise its profile to a leading Mediterranean n´multi-purpose port. A contract was signed last Thursday for the financing of the construction of a new multipurpose terminal in the port of Alexandria on Egypt’s Mediterranean coast.  The project requires an investment of EGP 7 billion (€374 million) to build port infrastructure with a capacity of about 12 million tons of cargo annually. Work began earlier this year and the terminal is expected to become operational in early 2022. The project will be financed with EGP 5 billion from a consortium of banks consisting of the National Bank of Egypt (NBE), Banque Misr and Commercial International Bank (CIB), together with EGP 2 billion from the Egyptian Group for Multipurpose Terminals (EGMPT). The terminal will cover an area of ​​over half a million m², have a quay line of about 2,500 metres with a depth of -17.5 metres. As a result, the new facility will have an annual traffic capacity of 1.5 million TEU containers, two million tons of conventional goods and 100,000 cars. Egyptian Group for Multipurpose Terminals is negotiating with international companies for the management of the new terminal. EGMPT is a public consortium comprising the Port Authority of Alexandria, the Suez Canal Authority, the Holding Company for Maritime and Land Transport and the Alexandria Container & Cargo Handling Co. Copyright (C) PortSEurope. All Rights Reserved. 2020.

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