International consortium backs Egypt’s Damietta Port with $455M financing package
Minister of Transport Kamel Al-Wazir and Ambassador of Italy to Cairo Michele Quaroni signed an agreement for the international transport of goods by towed land vehicles, trailers and semi-trailers, using roll-on/roll-off (RoRo) line, as per a statement by the Egyptian side.
The RoRo line is scheduled to be operational during the first half (H1) of 2024.
The two countries also inked a memorandum of understanding (MoU) to enable easy transport of goods and reduce the cost of transport and travel time between both sides.
Al-Wazir previously unveiled that a logistics zone will be established behind Damietta Port as part of implementing a comprehensive plan to make Egypt a center for global carpentry and logistics.
