An Emirati holding company has offered to manage all investments in Damietta’s global logistics centre project, Minister of Supply and Internal Trade Khaled Hanafy announced in a Tuesday statement.
The project was adopted by the government in October for the handling and storage of grain and food commodities.
Hanafy added that one of the international consulting firms has also requested to participate in the project by establishing over 600km of railway lines. The new lines will be used to transport grain and food commodities, and will launch next month.
The minister did not name both the firms involved in the project.
The project will increase the capacity of annual marine trading of grains and food commodities in Damietta port from the current 7m-8m tonnes to 40m tonnes. Of this, 12m tonnes will be re-exported locally, according to Hanafy. The total amount of trade expected for the project’s multimedia transportation systems is approximately 65m tonnes per year.
The total area for the proposed project is 3.35m square metres, of which 0.56m fall within the boundaries of the Damietta Port. The remaining 2.79m square metres comprise a portion of the untapped industrial area northeast of the port and are owned by the New Urban Communities Authority (NUCA).