A liquid bulk storage terminal is to be built in a Red Sea port by DP World as part of a series of agreements signed by Egypt’s Ministry of Transport.
The marine terminal operator will construct the terminal in the port of Ain Sokhna for $415 million, Minister Hany Dhahy said in a statement following the signing of the agreement at the Egypt Economic Development Conference.
The agreement is part of six agreements signed with international firms to develop sea ports and railway projects totalling $2.2 billion.
The Ministry has also signed a memorandum of understanding (MoU) to build a railway line for for transporting goods between Ain Sokhna and Helwan city south of Egypt’s capital Cairo – with investments worth $490 million.
Another MoU has been signed by the Ministry and an international firm – who has not been named – to construct a multi-purpose terminal in the port of Alexandria with $250 million in investments.