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Monday, 19 September 2022

Qatar eyes investment in Egypt’s container terminals

Qatar, Transport Ministry to conduct feasibility studies for Egypt port investment: Maha Capital, the investment arm of Qatar Investment Authority (QIA), has signed an MoU with the Transport Ministry to explore investment in Egypt’s container terminals, the ministry said in a statement yesterday. Under the agreement, the two sides will conduct feasibility studies for “joint projects in ports” such as the West Port Said container terminal, the statement said, without disclosing further information.

This is the second agreement of its kind in less than a week: The Sovereign Fund Egypt and QIA last week signed an agreement on ports during President Abdel Fattah El Sisi’s visit to Doha. Neither the Egyptian or Qatari governments have disclosed the details of the agreement. Qatar has pledged to invest USD 5 bn here to help shield us from the fallout from the war in Ukraine.

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