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Home / NEWS / Egypt signs $2.2bn of transport, ports deals

Egypt signs $2.2bn of transport, ports deals

by Michael Fahy on Mar 14, 2015


The finance minister signs a deal with DP World representatives for a new liquid bulk terminal
The finance minister signs a deal with DP World representatives for a new liquid bulk terminal

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Egypt has signed several agreements with international firms covering ports and transport projects worth a combined $2.2bn.

These include a pair of deals with China's AVIC International Holding Co worth $500m which will see the company build trains in Egypt, and an MoU to build a railway line with electric trains running from Alexandria to Abu Qir with Italian firm Trenitalia.

A goods railway line worth $490m is also due to be built between the Red Sea port of Ain Sokhna and Helwan City to the south of Cairo.

The UAE's DP World has also signed a $450m contract to develop a liquid bulk storage terminal at Ain Sokhna.

A further $250m contract was signed for a new, multipurpose terminal to be developed in the Port of Alexandria.

The deals were signed at the Egypt: The Future economic development conference which took place in Sharm El Sheikh on 13-15 March.



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