Egypt Signs 100-Million-Dollar Deal to Establish Dry Port, Logistic Center
TEHRAN (ANA)- Egypt signed a contract with logistics operator Medlog for establishing a dry port and logistic center near the capital of Cairo with 100 million US dollars in investments, the Egyptian Ministry of Transportation said in a statement.
Spanning 260 acres within the 10th of Ramadan city in Sharqiya province, the upcoming project will enhance trade activity and reduce the buildup of goods and containers, the statement said, adding it will also elevate the standard of logistical services while curbing transportation expenses of the commodities.
The project will operate within a 30-year framework under the private-private partnership (PPP) model, with the 100-million-dollar investments entirely covered by investors. It is planned to host 400,000 containers per year, the statement said.
Medlog is part of the cargo division of MSC Mediterranean Shipping Company, one of the world's leading container shipping lines.
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