DP World in deal to develop Egyptian Inland Container Depot

Posted by Daily Shipping Times on 09-05-2018        Tweet

DUBAI: Major port operator DP World is teaming up with Egyptian Government-linked parties to develop a new inland container deport (ICD) that is expected to boost the flow of cargo into inland areas.

The Memorandum of Understanding (MoU) agreed by DP World, Egypt’s Holding Company for Maritime and Land Transport and the Suez Canal Authority aims to develop the facility in Egypt’s 6th of October City, a satellite town in the Giza Governorate and part of the urban area of Cairo.

DP World will lead the consortium in bidding for the Government contract for the project later this year and become the depot’s operator if the tender is won. The proposed ICD is expected to create a central distribution point and increase cargo flow between vessels and major land transportation networks.

The agreement was signed by DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem, Mohab Mamish, Chairman of the Suez Canal Economic Zone (SCZone), and Mohamed Ahmad Ibrahim Youssef, Chairman of the Holding Company of Maritime and Land Transport.

“Developing trade infrastructure to improve hinterland access for goods bound for Africa’s growing economic needs is essential. This collaboration builds on our strategic partnership with Egypt and we look forward to working with the SCZone and the government’s Holding Company for Maritime and Land Transport to make it happen,” said Sultan Ahmed.

“The partnership is aligned with the UAE leadership’s directive to share with neighbouring nations the global experiences that our Country has gained over the years. We are proud to support the Egyptian government’s drive for economic growth, led by President Abdel Fattah el-Sisi and the collaboration further builds on our historical ties with the Country where we have been operating Sokhna Port for 10 years and have become an integral part of the social and economic fabric,” he added.