This project comes on top of the numerous investments announced in the port and logistics sectors to enable Egypt to take full advantage of its strategic geographical position between the Mediterranean and the Red Sea.

Egypt has announced the signing of a memorandum of understanding with the Turkish group DOGUS to build an industrial zone costing around 7 billion USD.

The project will be developed around the port of Jarjoub and will include free trade and logistics zones, a multi-purpose freight terminal, a passenger terminal, a marina, an industrial zone and rail interconnections.

The protocol provides for 6 months to complete the studies, start the project implementation procedures and obtain the necessary approvals.

This agreement follows that signed at the end of November 2023 with the South Korean company STX to develop logistics infrastructures in the same port, including a used car assembly plant, an oil pipeline between Libya and the port of Jarjoub, etc.

If implemented, these investments will provide the port with an integrated infrastructure to support the Egyptian government's plan to transform it into a major hub for port and logistics services.

It is aligned with an ambition to establish an essential port network via ports on the Mediterranean and Red Seas to provide integrated logistics services for shipments to/from this region.

The aim is to further develop the port industry, which accounts for around 90% of the country's trade volumes.

Agence Ecofin