Egypt's Transport minister witnesses signing of 6 agreements

Minister of Transport Hani Dhahi on Saturday witnessed the signing of six agreements with international companies to carry out harbor and railway projects at a value of dlrs 2.2 billion on the fringe of Egypt Economic Development Conference (EEDC), currently in session in Sharm El Sheikh.
The six agreements include one with Dubai Harbors, the second with Aviation Industry Corporation of China (AVIC), the third with Italy's Railway, the fourth with China Harbor Engineering Company Ltd. (CHEC), the fifth with Saudi Arabia Al Hajri Corporation Company and the sixth with China's Dung.
The agreements stipulate the implementation of a third basin terminal at Al Ain Al Sokhna at EGP 4 billions, in addition to the final signing of an agreement between the Red Sea Harbors Authority and Dubai Harbors International to set up a liquid bulk terminal, the minister said.
An agreement has been clinched with AVIC to manufacture trains for Egypt at dlrs 500 million as well as another agreement with the BOT system for an electric train between Alexandria and Abu Qir at a cost of dlrs 500 million, he said.
A memorandum of understanding has been signed to establish a railway line for transportation of commodities between Sokhna and Helwa at a value of dlrs 490 million, in addition to a MOU for setting up multipurpose terminal at Alexandria Harbor at dlrs 250 million, the minister said.
Also, an MOU was signed with Italy's Railway which will provide consultancy for a high-speed train between Cairo and Alexandria and a project for the development of Abu Qir line at a cost of dlrs 10 million.
The minister made it clear that the liquid bulk project will include the expansion of existing terminals and the construction of storage and warehouses on 400,000 cubic meters to handle petrochecmicals and other fuel for ships.
The minister said the ministry's strategy aims at overhauling the maritime transport and all Egyptian harbors with a target of settling all investors problems and push up the economy.