The Red Sea Ports Authority (RSPA) announced the implementation of new projects in the Adabiya and Tawfik ports with the aim of stimulating both domestic and foreign investment opportunities. According to Minister of Transportation the projects include the building of a new cargo terminal which will “open new business opportunities and jobs” in Port Tawfik. The cargo terminal will span 250,000 sqm and accommodate medium-sized ships.
The capacity of the port would increase to 1.5m tonnes and offer 500 new job opportunities during the construction period and 2,000 opportunities after its completion. A station for stocking wheat will be established in the Adabiya Port. The expected capacity of the station will be 2.5m tonnes and will offer 700 job opportunities while under construction and 1,500 jobs after the project is completed.
The authority issued two international public bids for projects in the Safaga Port, located in the Red Sea Governorate, and the Al-Tour port in South Sinai. In February, the transportation ministry earmarked EGP 67m to dredge Damietta Port in order to accommodate giant ships. As part of a joint operation between Damietta Port Authority (DPA) and Suez Canal Authority subsidiary Timsah Shipbuilding Company, around 1m cubic metres will be dredged to contribute to the project.
The Suez Canal and its surrounding land shall become a strategic hub for logistics and maritime transport on an area of 7,000km, including Suez, Port Said, Ismailia, North and South Sinai. The Adabeya Port will be expanded to reach 180% of its original size. Adabiya port is the key port for palm oil imports into Egypt. According to trade statistics, imports of palm oil and its derivatives in 2013 reached about 780,000 tonnes. This port is also supported by a free zone area of about 62 feddans overlooking Suez bay coast at 5km.
23 April 2014