Egyptian Transport Minister Lt. Gen. Kamel Al Wazir commented on the signing of the final contract for the operation, management and maintenance of the Safaga Port Multipurpose Terminal between the Red Sea Ports and the Abu Dhabi Port Company. .
During a telephone interview with Al Hekaya, Kamel Al Wazir clarified, “Egypt is not selling its ports and the contract signed between the Ministry of Transport and Abu Dhabi ports to operate the Safaga 2 station does not mean that the state is selling its property, noting that corporate port management is not new and is present all over the world.”
The minister emphasized that “Egypt has full sovereignty over the port of Safaga and through the concession, Egypt has the right to restore the infrastructure and superstructure of the port. We are looking to capitalize on huge investments and the golden triangle has a promising future. and the Emirati investor knows this through feasibility studies.”
Lieutenant General Kamel Al Wazir praised the coordination between Egypt and the Emirates to set up a world-class aluminum smelter and a multi-purpose terminal at the Port of Safaga will serve the project.
He pointed out that the cost of the Safaga 2 station exceeds 2.5 billion pounds, and the minimum turnover due to which Egypt will receive 1.5 billion dollars during the concession agreement, explaining that there are two national companies that will take over the work on construction. Safaga 2 station superstructures with Emirates investment.
He added: “If Egypt wanted to operate the Safaga and Deheila stations, it would need to spend $1.6 billion just to buy the equipment.”
Source: Cairo 24
You must log in to post a comment.