FILE: Minister of Transportation Kamel el Wazir
CAIRO - 11 February 2020: Transport Minister Kamel el Wazir met Tuesday with co-chairman of Germany's EUROGATE Group Thomas Eckelmann and Cecilia Eckelmann-Battistello, president of Contship Italia, to discuss activating a memorandum of understanding with Damietta Port Authority about establishing a logistics zone.
This zone should be the biggest in the Middle East and North Africa region.
A consortium of the two companies submitted a technical and financial offer based on the outcome of a study to build the logistics zone, which would be the second in the Delta city of Damietta.
The offer included the anticipated volume of investment and stages of implementing the project. It also focused on expected revenues and the value added.
Part of the project is to establish an integrated multimodal transport system and connecting it to logistics centers and industrial zones, Wazir said.
He added that the project would help achieve economic development in Damietta and neighboring areas, noting this would also hone the competitiveness of Egyptian ports.
It is hoped to turn Damietta into an essential harbor in the East Mediterranean region, thus opening new markets for Egyptian exports to tap, Wazir further said.
The project will also contribute to luring more foreign investments to the country, the minister added.