DP World, Dubai’s state-owned ports operator, said on Monday that it had signed an agreement with Egypt’s Holding Company for Maritime and Land Transport, and the Suez Canal Authority, with the intention to develop a new inland container depot (ICD) in Egypt’s 6th of October City.
The city is a satellite town in the Giza governorate and part of the urban area of Cairo.
The three partners say they will bid for the government’s project contract later this year. The proposed ICD will increase the flow of cargo between ships and major land transportation networks, creating a central distribution point. Under the Memorandum of Understanding (MoU), DP World say they will lead and represent the alliance in the bidding process and become the ICD operator if the tender is won.
The MoU was signed by Sultan Ahmad Bin Sulayem, DP World group chairman and CEO; Mohab Mamish, chairman of the Suez Canal Economic Zone; and Mohammad Ahmad Ebrahim Yousuf, chairman of the Holding Company of Maritime and Land Transport.
“Developing trade infrastructure to improve hinterland access for goods bound for Africa’s growing economic needs is essential. This collaboration builds on our strategic partnership with Egypt and we look forward to working with the SCZone and the government’s Holding Company for Maritime and Land Transport to make it happen,” Bin Sulayem said in a statement. “The partnership is aligned with the UAE leadership’s directive to share with neighbouring nations the global experiences that our country has gained over the years. We are proud to support the Egyptian government’s drive for economic growth, led by President Abdul Fattah Al Sissi and the collaboration further builds on our historical ties with the country where we have been operating Sokhna Port for 10 years and have become an integral part of the social and economic fabric.”