Construction & Real Estate

Alexandria Port to see $15.6bn development

Egypt’s Alexandria Port is set to become the largest port in the Middle East with long-term investments amounting to EGP120 billion ($15.6 billion), a report said.

The plan, which would continue until 2027, will include a logistic industrial area, in addition to another commercial area, General Khaled Soliman, head of the Central Administration of Movement at the Alexandria Port, was quoted as saying in the Daily News Egypt report.

He explained that the plan targets three blueprints for the port, including a multi-storey terminal, a shopping mall that would create around 4,000 job opportunities, in addition to a passenger station.

Alexandria Port Authority has completed the operations of 27 bridges, with total cost of EGP60 million ($7.8 million).

The port has started to develop a new axis from Gate 54 at the port, Soliman was quoted as saying in the report.

This will be developed alongside another project in Dekhela, which will be worked on in the future, linking the port to the coastal axis and to ease the traffic in Alexandria.

Daily News Egypt previously reported that the Alexandria Port Authority executed 91 per cent of its investment plan for the current fiscal year by the beginning of the June.

The port targets EGP460 million ($60 million), according to a previous statement by Admiral Abd Elkader Darwish, the chairman of the port.