First dry port in Egypt to receive financing from EBRD and AfDB

Cairo, Egypt (Ports Europe) May 14, 2020 – The first stage of the first dry port in Egypt - Sixth of October (6th of October City), outside capital Cairo - will receive 70% of its $176 million financing from the European Bank for Reconstruction and Development (EBRD), the African Development Bank (AfDB) and several yet unnamed local banks. Elsewedy Electric, Schenker Egypt and 3A International, chosen earlier this year by the government to build the port, will cover the remaining 30%. The EBRD is expected to cover up to 30% of the financing provide by the banks. Work on the first 100 feddans (420,000 m²) of the 400 feddan (1.68 million m²) project should be completed by the end of 2021. The dry port (hub) is scheduled to become operational in 2022 and projected, when all stages of construction are completed, to handle 720 TEUs per day or about 250,000 TEUs per year. The dry port, the biggest facility of its kind in Africa, will contain cargo zones, customs clearance offices, multipurpose storage facilities linked to key seaports, communication and control systems, a solar energy system for electricity generation, lifting and transport equipment, tractors, railways, and UV inspection systems. Other facilities in the hub include an integrated customs department headquarters, administrative offices for the parties involved in the port project such as the General Authority for Land and Dry Ports, the General Organization for Import and Export Control (GOEIC), the project company, shipping line agents, shipping, clearing, and transportation companies. The site is the industrial zone of the 6th of October City, which is a city in Giza Governorate, a satellite town and part of the urban area of Cairo, Egypt, 32 km outside the city. This is one of the largest industrial zones in Egypt on which the entire city is established. A feddan (Arabic, romanized: faddan) is a unit of area used in Egypt, Sudan, Syria and Oman. In Egypt the feddan is the only non-metric unit which remained in use following the switch to the metric system. A feddan is divided into 24 kirat in which one kirat equals 175 m². In related developments, Egypt is also in advanced discussions with the World Bank for a potential $200 million loan for El Manashy railway line linking the Sixth of October to El Manashy village in Giza. The 65 km line will cover the missing link between Alexandria port and the Sixth of October dry port. The first phase of the Qalma Bridge on the Cairo-Alexandria agricultural road has been completed. The bridge, which has three lanes in both directions, will soon be open to traffic from Cairo to Alexandria. The construction of the bridge second phase, in the Alexandria direction, will be initiated immediately and is expected to be completed by end October 2020. Construction works for the bridge have been awarded to the Nile Company for the Construction of Roads and is part of Cairo’s plan to build six bridges along the Cairo-Alexandria Agricultural Road. The cost of all six bridges is expected to be 932 million pounds ($59.2 million). The new dry port will operate under a public private partnership (PPP) model, managed by the PPP department at the Ministry of Finance. Moll Logistics Consultancy led the development of the conceptual design, market analysis, and business modes for the port. The dry port is to help traditional seaports, such as Alexandria, Egypt’s largest and most congested port. The hub will also utilize the rail links between Alexandria and the 6th of October city, providing faster, safer, cost-effective, and more sustainable freight, while cutting customs clearance lead times. The port is expected to create 3,500 direct and indirect jobs. Copyright (C) Ports Europe. All Rights Reserved. 2020.

First dry port in Egypt to receive financing from EBRD and AfDB

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First dry port in Egypt to receive financing from EBRD and AfDB

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