Egypt launches joint stock company to manage multi-purpose stations

CAIRO - 6 September 2018: The Transportation Ministry has announced the establishment of a joint-stock company for the management of multi-purpose stations as per the new investment law no.72 of 2017 and its executive regulation and the companies law no. 159 of 1981 and its executive regulation.

The Alexandrian-based company is tasked with constructing and running a multi-purpose stations to handle containers and general cargo in eight docks at Alexandria port, Transportation Minister Hesham Arafat said in a statement on Thursday.

The company's authorized capital stands at LE 500 million and is divided among the Alexandria Port Authority (34 percent), the Suez Canal Authority (33 percent) and the Holding Company for Maritime and Land Transport (33 percent), he added.

Alexandria Port Authority will have the right to run the company, he noted.

For his part, Chairman of Alexandria Port Authority Medhat Attia said that preparations are under way to put forward the multi-purpose station at the port to experienced global consulting firms to prepare the tender specifications for selecting the project's consultant, the contractor and the station operator.

The 560,000-square-meter station has a capacity of 15 to 18 million tons.

Also, it can simultaneously receive six ships.