Tenth of Ramadan dry dock and logistics hub greenlit by cabinet
Proposed Tenth of Ramadan PPP project gets final cabinet approval: A public-private partnership model under which the government will move forward with a tender to establish the Tenth of Ramadan City dry port and logistics hub was greenlit during the weekly cabinet meeting yesterday, according to a statement. Cabinet had given preliminary approval to the project last week, along with eight other PPP developments including new dry ports in Beni Suef, Sadat City and Borg El Arab.
Five consortia reportedly have their eyes set on the tender: Those include one led by Dubai’s DP World, one led by China International Marine Containers (CIMC) Group, and another comprising Elsewedy Electric and DB Schenker, among others.
Also approved in yesterday’s meeting:
- A EUR 145 mn financing agreement with the African Development Bank to improve rail safety in Egypt; and
- A decision to move ahead with a contract between the Egyptian Electricity Transmission Company and Saudi’s Acwa Power to convert a 2.25 GW combined cycle electricity plant in Luxor to run only on renewable energy sources.