The Egyptian government is gearing up for the construction of a logistics zone with an investment of $50 million, two unnamed government sources told Asharq Business.
Set to be situated behind the Safaga Port, the zone is poised to become a hub for the aggregation and unloading of goods to and from the high-speed electric train that will link the Red Sea and Mediterranean ports.
The proposed initial area for the logistics zone is around 100 feddans.
Coordination is underway between the Red Sea Governorate and the National Center for Planning State Land Use to transfer land ownership and finalize the project’s designs.
In December, Red Sea Ports Authority (RSPA) and an Abu Dhabi Ports Group (AD Ports) consortium inked the final 30-year concession agreement to manage, operate, maintain, and re-deliver the multi-purpose terminal Safaga 2 as well as construct and develop its superstructure.