Finance Minister Mohamed Maait said on Tuesday12/4/2022that Egypt won the IJGlobal Transport Deal of the Year award after it established the 6th of October Dry Port (DP6), which is the first (Public-Private Partnership) PPT project in this sector in Egypt.
The award reflects international institutions’ confidence in Egyptian capabilities to carry out development projects in partnership with the private sector using the latest standards, Maait said in a press release.
An Egyptian-German consortium will establish, manage and operate the port at a cost $30 million in the first phase, the minister added.
The port will help stimulate the investment climate and reduce customs clearance time, thus reducing the prices of goods and services in local markets, the minister noted.
According to IJGlobal, DP6 will provide support for the existing port infrastructure and logistics market, while also contributing to the realization of logistics efficiency gains.
The port is important to guarantee a smooth flow of cargoes, decongest the seaport areas and realize logistics efficiency gains.DP6 will function as an extended gateway for the deep-sea ports in the northern and eastern regions of Egypt, supporting the overall economic growth of the country.
Source: State Information Service Egypt