Back to the complete issue
Monday, 21 December 2020

SFE eyes Sixth of October dry port

The Sixth of October dry port has piqued the interest of the Sovereign Fund of Egypt (SFE), which could partner with the consortium of companies implementing and operating the project, Elsewedy Electric CEO Ahmed Elsewedy told Hapi Journal. There’s already an early agreement that would see the fund acquire a minority stake in the project, and talks are expected to wrap up within the next six months, Elsewedy said. This would come under the SFE’s mandate to seek partnerships with the private sector through minority stakes.

Things are starting to move forward: The House Transportation Committee last week approved awarding the contract to build, operate, and transfer the dry port to a consortium led by Elsewedy, several months after cabinet gave the green light. The final contract with the Transport Ministry is expected to be signed “in a few weeks,” Elsewedy said.

About the project: The first phase of the 100-feddan project is expected to cost USD 176 mn, which will be covered by the consortium. The port should be able to handle 720k cargo containers a year and will include cargo zones, customs clearance offices, and multipurpose storage facilities linked to a cargo railway and key seaports.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.