Investments in Damietta Port to rise to LE 10 billion

CAIRO – 24 August 2017: Investments in Damietta Port reached LE 3 billion ($169 million) and are planned to rise to LE 10 billion through different projects which are under construction, the Head of Damietta Port Authority Major General Ayman Saleh told Egypt Today on Thursday.

The authority is currently executing five projects including a second container terminal, a multi-purpose station stretching on 630 meters with a depth of 17 meters, a wharf to export urea and ammonia, a logistics service center for gas and oil exports, and a plan to restore roads, yards and infrastructure in the port.

Saleh indicated that a part of these projects are funded through loans, while the rest are self-funded by the authority.

Due to the expansion and deepening of shipping channels, the amount of goods at the port increased from 28 tons to 33 tons per year.