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Wednesday, 28 March 2018

General Authority for Ports denies requiring USD 60 mn loan for 6 October dry port tender

The General Authority for Ports and Dry Land denied news reports that the authority was requiring investors to arrange a USD 60 mn loan in order to qualify for the 6 October dry port tender. The terms and conditions for the project have yet to be issued, the authority noted. The authority stressed that it has only issued an invitation to interested investors to apply for pre-qualification for the project, which the Transport Ministry announced in December. Transport Minister Hisham Arafat had previously said that the project, which will be developed under a PPP framework, will require an initial investment of around USD 100 mn. The bidding window for the project will close on 7 April.

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