Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Egypt-Turkey Sign MoU to Establish Industrial Zone with Investments of $7 Bln

Fri 22 Mar 2024 | 07:35 PM
Taarek Refaat

The Egyptian Ministry of Transport announced the signing of a memorandum of understanding to lay the foundation stone for the establishment of a Turkish logistics industrial zone in Marsa Matrouh in the northwest of the country.

The ministry stated in a statement that the project, which is scheduled to be established in the economic zone in Jarjoub, aims to pump direct investments of more than $7 billion in all its stages, and provide more than 20,000 job opportunities.

The statement indicated that the project comes within the framework of the Egyptian government’s plan to benefit from the strategic location of Jarjoub Port to implement several projects through the alliance to design, construct, manage and operate a commercial port, free and logistical zones, and connect them to the railway network, a multi-purpose cargo terminal, a passenger terminal, a yacht marina and an industrial zone.

The Ministry of Transport said that it is planned to sign the contract before the end of this year, with operation to begin in early 2026.