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Ashraf Salman News

23 Mar 2016

Six Terex RTGs for Egypt

Terex Port Solutions (TPS) received an order for six diesel-electric Terex rubber-tyred gantry cranes (RTG) from Alexandria Container and Cargo Handling Co. (ACCHCO), Egypt. The machines will be operated inthe Alexandria Container Terminal and the El-Dekheila Container Terminal ofthe country’s main port, Port of Alexandria. When the cranes are commissioned in November 2016,they will join the more than 20 Terex RTG’s already in operation in Egypt. “We are honoured by the trust that this important port operator haslaid in our technology. Terex RTGs have been operating in the Port of Alexandria since 2003. They are part of an infrastructure with huge impact…

05 Mar 2015

Egypt: Suez Canal Zone to Make Up 30-35% of Economy

Egypt expects a planned economic zone near the Suez Canal to eventually make up about a third of Egypt's economy, the country's investment minister said on Thursday. Egypt plans to build an international industrial and logistics hub near the canal to attract foreign investment, alongside a separate scheme in which the army is digging a second canal to facilitate two-way traffic of larger ships. Investment Minister Ashraf Salman said the planned hub would be the centrepiece of a key economic conference planned for the end of next week, which Egypt hopes will draw investors back after four years of economic and political turmoil. "The main project that we'll show in the conference is the development of the Suez Canal…

05 Mar 2015

Egypt on a War Footing to Expand Suez Canal

The Suez Canal Authority is in a race to quickly expand the vital waterway for two-way traffic by August 2015, says an Associate Press report. Workers dig round the clock on Suez Canal expansion, hoping for surge in East-West trade. President Abdel-Fattah el-Sissi has made the project a point of nationalist glory, not to mention a cornerstone of plans to revive the economy. But while shippers say more ships may be drawn by shorter waiting times, ambitions to nearly triple revenues depend mainly on growth in the world economy. Any major increase, however, depends on something unlikely to happen soon — a large jump in European demand fueling greater shipping from Asia. However, 89% of dredging work has been completed on the new Suez Canal.