Highlights of projects aimed at turning Egypt into trade, energy hub

CAIRO – 4 June 2024: President Abdel Fatah El-Sisi has been eager for turning Egypt into a trade and energy hub. Hence, since 2018, the government has been implementing projects in relevant sectors with the aim of achieving that goal.  

Ports

Logistics are an important element of turning Egypt into a trade hub so a number of projects are being accomplished in that field. New container stations have been introduced in the seaports of Alexandria, Safaga, and Damietta. Their cost is LE7 billion, LE2.6 billion, and LE5.5 billion, respectively.

The station in Alexandria has quays extending on 2.5 kilometers and having a depth of 14.5 meters with an annual capacity of goods circulation of 15 million tons.

The station in Safaga has quays extending on 1.1 kilometers and having a depth of 17 meters with an annual capacity of seven million tons in goods circulation and two million in container circulation, as it spans over 810,000 square meters.

The station in Damietta has quays extending on 1.97 kilometers and having a depth of 18 meters with an annual capacity of container circulation amounting to 3.5 million as its surface area 922,000 square meters.

The government also gave attention to dry ports as two were established in Saloum and 6th of October with a cost of LE2.56 billion and $176 million, respectively. The former stretches on 286 feddans and consists of roads having a total length of 400,000 square meters. The latter stretches on 100 feddans as it serves the industrial zone located in the city.

Manufacturing

Seventeen industrial complexes were executed in Menya, Luxor, Aswan, Alexandria, Fayoum, Beheira, Red Sea, Sohag, Aswan, Qena, Gharbia, and Beni Suef between 2018 and 2020. They house a total of 5,046 plants providing approximately 48,000 jobs.

Electricity and Renewable Energy

As electricity is a must to power all those projects. Egypt assigned to Siemens the establishment of three 4.8-gigawatt turnkey Combined Cycle Power Plants in Beni Suef, New Administrative Capital, and Borolos. The total cost of those was €6 billion and LE2.1 billion.

Benban Solar Park – having a capacity of 1,465 megawatts - was set up in Aswan at initial investments worth $2.2 billion. With regard to wind energy, a farm was introduced in Gabal El Zeit with initial investments worth €526 million, LE643 million, and 50 million yens. It consists of 290 turbines spreading on the Red Sea coasts, generating 580 megawatts of electricity.

The first of its kind project in the energy sector is the Dabaa Nuclear Power Plant executed in collaboration with Russia at an estimated cost of $25 billion. It will consist of four reactors having a total capacity of 4,800 megawatts.