DP World considers establishing dry port near Cairo, expanding investments in Egypt

DP World Group is considering the establishment of a dry port near Cairo that includes a logistic area, according to a statement released on Sunday. It is also considering the establishment of other ports around Egypt to benefit from its geographic location.

Minister of Industry and Trade Tarek Kabil said in the statement that a delegation of the group will visit Egypt soon to hold talks about possible investments. The group wants to invest in developing the infrastructure of Egyptian ports and establishing free zones around the country.

Kabil added during his meeting with Sultan Ahmed bin Sulayem, chairperson and CEO of the group, that the relation between Egypt and the United Arab Emirates (UAE) has been highly developed during 2016. He stated that Egypt’s exports to the UAE increased by 224%, adding that the value of trade between both countries exceeded $3bn. The value of Egyptian exports to the UAE reached $2.2bn in 2016, which included different products such as televisions, gold, food, furniture, and products used in construction. Egypt’s imports from the UAE recorded $834m.

Source: Daily news Egypt