The signing ceremony. Ministry of Transport.
According to a Cabinet statement on Thursday, the deal comprises the maintenance and operations of the port and the centre, which will be built on 250 feddans - 130 feddans for the dry port and 120 feddans for the logistics centre.
The project is expected to handle 400,000 containers annually with an investment cost of $100 million to be borne by MEDLOG, according to Minister of Transport Kamil El-Wazir.
The new deal coms as part of wider national plans to develop 15 logistic areas and dry ports in various areas across the country, the Cabinet explained.
Based on its LinkedIn profile, MEDLOG is an independent inland transportation and logistics provider, present in over 80 countries with more than 10,000 employees.
The company offers door-to-door tailored solutions as well as large off-dock storage facilities to an ever-growing customer base.
Another dry port in Borg El-Arab
The land and dry ports authority also signed an MoU with Ocean Express Shipping company to study, construct, and operate Borg El-Arab dry port.
The new port will be built on 120 feddans in close vicinity to the railway station Borg El-Arab city and 56 kilometres away from the Port of Alexandria, according to Minister El-Wazir.
The project will be executed in two phases.
The first phase, which will be built on 40 percent of its total allocated area, includes a new train station, a handling area, and half of the container area, along with customs inspection and other government services offices, El-Wazir explained.
He projected that the superstructure and infrastructure of the project would be completed in 12 months at a cost of EGP 780 million ($24.23 million).