EGP321 billion.. government investments in 6 land and dry ports

The economic and social development plan for the fiscal year 2023/2024 was adopted, which was submitted to Parliament in formulating its orientations, goals and development programs according to a participatory approach and a constructive national dialogue that brings together all segments of society. In order to strengthen the bonds of cooperation, coordination and integration between government agencies, the private sector and civil society.

Total investments directed

With regard to the transportation sector, Hala Al-Saeed said that the total investments directed to this sector are estimated at 321 billion pounds in 2024/23, compared to expected investments in the range of 247 billion pounds in the previous year. With an increase of approximately 30%, public investments account for about 84% of the total investment, equivalent to 268 billion pounds. It is estimated that the sector's output will reach about 864 billion pounds in the year of the plan, with a growth rate of 22% over the previous year.

In the field of land and dry ports, she explained that the plan aims to support six ports, while linking them to the central monitoring network of the General Authority for Land and Dry Ports. The Egyptian ports plan includes the implementation of a number of projects aimed at raising the efficiency of these ports. By providing them with locomotives, cranes, operating equipment in ports, civil protection equipment, and carrying out major overhauls for marine units. Among the targeted works - for example - in the port of Safaga, is the construction of a dock and a station for handling containers, and dredging the shipping lane.

With regard to the port of Alexandria, the most important works include the construction of a multi-purpose terminal and a logistic area on an area of 273 acres, an electrical transformer station in the port and the construction of a link to connect the port of Alexandria with the international coastal road.

In the case of the port of Damietta, the targeted works include the construction of container terminals (Long Live Egypt), the completion of the construction of the breakwater west of the port, and the deepening of the shipping lane.

Port development

In related context, Egypt witnessed a revolution in the field of port development during the era of President Abdel Fattah El-Sisi; Chief among them is the development of the Suez Canal; The political leadership aimed to increase the capacity of many seaports and raise the efficiency of the services provided there.

In addition to activating the strategy for the ship industry, which was prepared to localize and develop the industry in Egypt by 2030; Because of its direct impact on the Egyptian economy.

Egyptian Ports Development Project

The Egyptian Ports Development Project was implemented by national Egyptian companies and Egyptian and international consultants; The total cost of developing Egyptian seaports during the period from 2014-2024 is about 129 billion pounds, and it included the construction of new berths with a total length of 35 kilometers and depths ranging from 15 to 18 meters.

The new Suez Canal project represented a dream for the Egyptian people. Because it added great value, and it gained a special international status as a major artery and navigational corridor for the global trade movement. Due to its distinguished geographical location, and the improved performance of the Suez Canal despite the Russian-Ukrainian crisis, and to achieve the highest annual revenue in its history last year, which amounted to $7 billion in 2021/2022, compared to $5.8 in 2020/2021 and 2018/2019.