Media ININ Economy We Trust
Media In – Dubai 7 May 2018 / WAM /
Dubai Ports World – the leading catalyst for global trade – and the General Authority of the Suez Canal Economic Zone – a strategic partner of Dubai Ports in the Arab Republic of Egypt – and the Holding Company for Maritime and Land Transport of the Ministry of Business Sector – the government arm of Egypt to manage and operate container and cargo handling stations in Egyptian ports – Today signed a Memorandum of Understanding (MoU) in Dubai with the aim of progressing to qualify for the dry port project on 6th of October as an important project serving the members of the alliance and achieving sustainable development in Egypt.
Under the MoU, all parties will cooperate with each other on the project, including establishing a partnership or alliance among themselves or with their subsidiaries or joint ventures to make a presentation on the project.
The memorandum also stipulates that Dubai Ports World will be authorized to lead the bidding process and will be the operator of the project in the event that the consortium is established as it has long experience in operating several similar projects through its global portfolio of 78 marine and land stations in 40 countries.
The MoU was signed by Sultan Ahmed Bin Sulayem, Chairman and CEO of DP World Group, General Mhaab Mamesh, Chairman of the General Authority of the Suez Canal Economic Zone and Admiral Mohammed Ahmed Ibrahim Yousif, Chairman of the Board.
The huge development project, which is in line with the Egyptian government’s strategy to develop the Suez Canal corridor and the new administrative capital, is aimed at creating a sustainable industrial zone that is attractive to foreign investments and leaves a legacy for future generations. It promotes the development of small and medium businesses and contributes to creating jobs for the Egyptian youth. The total stimulates the economy and raises the standard of living
