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Sunday, 23 October 2022

Qatar’s sovereign fund is taking a closer look at Damietta Port

WATCH THIS SPACE- Qataris eyeing Damietta Port? Representatives from Maha Capital, the investment arm of Qatar Investment Authority (QIA), visited Damietta Port last week, a month after signing an MoU with the Transport Ministry to explore investment in the country’s ports, the Damietta Port Authority said Thursday. Under the agreement, Egypt and Qatar are conducting feasibility studies for “joint projects in ports.”

Qatar to challenge DP World + Abu Dhabi Ports? Gulf involvement in the nation’s ports has so far been dominated by Dubai’s DP World and Abu Dhabi Ports, which have acquired several container terminals around the Suez Canal and the Red Sea. ADP has been contracted to develop and run a terminal at Safaga and Ain Sokhna ports and recently took a majority stake in a major local shipping and logistics firm. Meanwhile, DP World has been strengthening its position at Ain Sokhna port, completing a major expansion at the port late last year and recently signing an agreement to build a new logistics zone.

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