President Sisi briefed on Gargoub development project

CAIRO - 21 December 2023: President Abdel Fattah El Sisi was briefed on the progress of a number of national projects implemented by the Ministry of Transport, especially the Gargoub development project, which aims to transform the area surrounding Gargoub commercial port into a special economic zone, and to benefit from the port to create a new window for foreign trade and modern industries in northwestern Egypt.

The President met with Prime Minister Mostafa Madbouly, Minister of Transport Kamel El Wazir, Commander of the Navy Vice Admiral Ashraf Atwa, Head of the Financial Affairs Authority of the Armed Forces Lieutenant General Ahmed El-Shazli and Head of the Armed Forces Engineering Authority Major General Ahmed Al Azazy.

The minister of transport outlined the components of this huge development project, which aims to make use of the area’s advantages within a comprehensive framework, including developing the port, urban and industrial development of the surrounding areas, and benefiting from the project to create an area to generate renewable energy.

This is in addition to making the best use of the project’s waterfront as a tourist destination with the aim of developing modern industries and developing the economic conditions of the residents of the area and the entire of Matrouh, by establishing an area for factories, a business center, and new residential and service neighborhoods, as well as hotels and tourist resorts.

The meeting also discussed one of the important projects within the framework of the development plan, which is the green hydrogen production and export project, in cooperation with the alliance led by DEME Group. The total foreign direct investments in the project amount to 26 billion dollars during the coming years.

President El-Sisi gave directives to continue the implementation of the project and make the best use of the characteristics of the area in a manner consistent with the needs of Egypt’s development and economic vision, especially focusing on industry and trade and attracting population growth to the area.

The President stressed the importance of taking into account international standards related to industrial zone planning and environmental protection considerations, emphasizing the key role of the port development process in enhancing Egyptian leadership as an international hub for trade the and provision of logistical services, in a way that makes optimal use of Egypt’s geographical location, also integrates and supports the state’s development plan to achieve a comprehensive renaissance in Egypt.