Egypt Pushing Ahead with Suez Port Expansion Projects

Posted by Michelle Howard
Thursday, June 12, 2014
Photo courtesy of Suez Canal Authority

Egypt is pressing ahead with plans to develop a new wheat storage facility and expand port operations at two terminals in the Suez area as the country looks to bolster strategic food reserves and attract investment, a top port official said.

President Abdel Fattah al-Sisi, who as armed forces chief toppled Islamist President Mohamed Mursi last July following mass protests, was sworn in on Sunday and seeks to fix Egypt's economy while overcoming political divisions after a long period of turmoil and bloodshed.

Egypt plans to boost its storage capacity in the strategic wheat sector to reduce reliance on imports and cut its 32 billion Egyptian pound ($4.5 billion) overall food import bill. A government minister said this week Egypt wants to be a "global logistics hub" for grain storage.

Hassan Falah, chairman of the Red Sea Ports Authority, said it had recently issued a tender to develop a wheat storage site with a capacity of 2 million tonnes at the port of Adabiya. He declined to disclose the value of the project.

"There are a number of Egyptian banks who are willing to fund the project with any investors and one of them is the National Bank of Egypt," Falah said on a trade visit to Britain this week. "In six months, the winner of the tender will be known."

The National Bank of Egypt could not immediately be reached for further comment.

Falah said Adabiya would add to grain storage facilities at other ports in Damietta, along Egypt's Mediterranean coast, and Safaga, which is situated along the Red Sea.

"Adabiya is in the middle and it is preferred to shorten the distance and can serve cities and governorates in different areas," Falah told Reuters via an interpreter.

Egypt is also making progress in increasing local storage capacity with the help of one of its major Gulf Arab backers, the United Arab Emirates. The UAE has committed to funding the construction of 25 silos to boost storage capacity by a further 1.5 million tonnes.

Falah said Port Tawfik, also situated in Suez and another terminal within his port authority, had issued a tender to develop a multi-purpose port there.

"In the pipeline and under study are expansion projects for yachts and cruise ships at the port," he added.

Authorities have mounted a crackdown on the Muslim Brotherhood, once Egypt's most well organised Islamist group, and its supporters since Mursi was deposed, killing hundreds and arresting thousands. Sisi still faces a violent threat from militants based in the Sinai peninsula, who are believed to have access to weapons smuggled from chaotic Libya.

In May, the army said it had seized 15 tonnes of a material used to make explosives in a town straddling the Suez Canal, a vital source of foreign exchange for Egypt and the fastest shipping route between Europe and Asia.

Falah, who retired from the Egyptian navy as a rear admiral in 2007, said there were no security issues with Suez.

"There are multiple checkpoints throughout Suez. The Suez area is secure," he said.

Sisi's plans include creating a Central Sinai governorate, or administrative area, carved out of the North and South Sinai. North Sinai has seen countless militant attacks on policemen and soldiers since Mursi's ouster.

"A new governorate will be created in the Sinai area," Falah said. "This will mean there will be a lot of improvements in the security situation. It will be much better and not worse."

(By Jonathan Saul, Additional reporting by Shadia Nasralla and Maggie Fick in Cairo; Editing by Dale Hudson)

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

APM Maasvlakte II Terminal Opens

APM Terminals Maasvlakte II held a ceremony  to celebrate the opening of the world’s most automated container terminal.   The  event that was attended by Dutch

Skangass Celebrates Topping Up

Nordic liquefied natural gas operator Skangass  has celebrated a topping out ceremony at its Pori LNG terminal. The company said it was making progress in the

Zim Offers Asia-US east coast service via Suez

Israeli liner carrier Zim Integrated Shipping Services is launching a new service between Asia and the U.S. East Coast via the Suez Canal at the end of May.   The

Finance

Norwegian Car Carriers to Buy Two from Hyundai Samho

Oslo-listed Norwegian Car Carriers (NOCC) has signed a contract with Hyundai Samho Heavy Industries for the construction of two 6500 ceu Pure Car Truck Carrier (OCTCs).

Long Beach, Los Angeles ports host forum to gather input

More than 100 cargo owners, trucking firm leaders, longshore labor, marine terminals and other goods movement industry representatives turned out Wednesday for

Venezuela Probes ex-minister accused of corruption in Ferry Deals

A former minister in President Nicolas Maduro's government denied in an interview published on Friday accusations of corruption during the purchase of three

Maritime Security

HMS Prince of Wales Bridge Sets Sail

The bridge section of the second Queen Elizabeth Class aircraft carrier set sail today from Glasgow on its first sea voyage to Rosyth.   Upper Block 07 is where

Iran Moves Ships, Reducing Tensions Near Yemen

A flotilla of nine Iranian military and cargo ships that U.S. officials feared was carrying arms to strife-torn Yemen sailed northeast in the direction of Iran on Friday,

Russia, France Close to Deal on Mistrals

Russia and France are close to reaching an agreement for Paris to cancel a frozen contract on the sale of Mistral helicopter carriers and reimburse Moscow, a Russian

News

Goliat FPSO in Norway

The Goliat FPSO was successfully floated off the heavy-lift vessel, Dockwise Vanguard, in the fjord outside Hammerfest, says Eni Norge    The Goliat platform has arrived in Hammerfest,

BIMCO Welcomes EU Decision on Migrants

BIMCO has stated today that it appreciates the new efforts by EU leaders to reduce increasing reliance on merchant shipping to rescue the growing numbers of

Long Beach, Los Angeles ports host forum to gather input

More than 100 cargo owners, trucking firm leaders, longshore labor, marine terminals and other goods movement industry representatives turned out Wednesday for

Vessels

IMO Calls for Environmentally Sound Ship Recycling in Bangladesh

The  International Maritime Organization (IMO) and the government of the People’s Republic of Bangladesh are jointly implementing a project entitled “Safe and

Zim Offers Asia-US east coast service via Suez

Israeli liner carrier Zim Integrated Shipping Services is launching a new service between Asia and the U.S. East Coast via the Suez Canal at the end of May.   The

BIMCO Welcomes EU Decision on Migrants

BIMCO has stated today that it appreciates the new efforts by EU leaders to reduce increasing reliance on merchant shipping to rescue the growing numbers of

Government Update

Judge Orders Migrant Boat to Remain in Custody

An Italian judge on Friday ordered that the presumed captain of a migrant boat that sank with the loss of more than 700 lives should remain in custody after prosecutors

Iran Moves Ships, Reducing Tensions Near Yemen

A flotilla of nine Iranian military and cargo ships that U.S. officials feared was carrying arms to strife-torn Yemen sailed northeast in the direction of Iran on Friday,

Rescue Ships Head for Libya, as Migrants Die Also in Balkans

British and German warships made ready to sail for waters off Libya as Europe ramped up rescue operations in the Mediterranean after up to 900 desperate migrants

Yachts

Grounding Kills 1, Injures 2 in Charleston Harbor

One person was killed and two people were injured when a boat ran aground on Shutes Folly off Charleston, South Carolina, late Thursday evening, the U.S. Coast Guard reported.

‘Row around Singapore Island’ Takes off today

The epic endurance challenge that will see 32 volunteers rowing 140km non-stop around Singapore is starting in less than 24 hours. The project has raised a staggering $450,

NOAA’s National Saltwater Recreational Fishing Policy Opposed

Recently, NOAA Fisheries released the implementation plan to support the latest National Saltwater Recreational Fishing Policy. The policy, announced at the

 
 
Maritime Security Naval Architecture Navigation Pipelines Port Authority Salvage Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.3192 sec (3 req/sec)