Egypt to implement multi-purpose plant in Safaga Port worth $500M

CAIRO - 22 January 2020: “Egypt is planning to implement a multi-purpose plant in Safaga Port (containers - general merchandise) at an estimated cost of $500 million,” Minister of Transport Kamel al-Wazir said Wednesday.

Wazir added in a statement that the plant is 6 km south of Safaga Port, with an area of ​​750,000 square meters, indicating that a 1,000-meter berth will be constructed to receive general cargo ships and containers.

This came during the participation of the Egyptian minister of transport in the UK-African Investment Forum, which is held in the British capital, London.

He added that the importance of the plant is based on the fact that the sea port of Safaga is considered the most important port for the African continent on the western coast of the Red Sea. This is in addition to its connection to a local road network that reaches Sudan through Hadraba land port, making this station, if implemented, of great economic importance for the region.

"Safaga port and the economic area of ​​the Golden Triangle are located on the sea route of Road and Belt Initiative that extends through the South China Sea, the Indian Ocean and the Bab Al-Mandab strait to the Suez Canal. The initiative contributes to the export and import of factories’ products in Upper Egypt instead of transporting their containers through the ports of Lower Egypt and Ain Sokhna, which means that the port of Safaga is considered the main port serving the governorates of Upper Egypt,” he explained.

He stressed that the establishment of this plant will contribute to servicing exports and imports of raw materials and manufactured materials in the region, including devices, equipment and factory components to complete the giant development axis (Golden Triangle) in Upper Egypt and benefit from development projects in the North and Central, and South regions of Upper Egypt, link them to the port and attract investments in the fields of industry, logistics and storage.

"Safaga port is considered a main station on the international shipping line linking the Mediterranean and the Indian Ocean through the Red Sea,” he stated.