The three selected companies are Orascom Constructions PLC, Hassan Allam Holding, and Samcrete.

The warehouses will be established over an area of 10 acres with a storage capacity of 75,000 storage units for each warehouse at a total cost of EGP 3.2 billion, Minister of Finance Mohamed Maait announced on Tuesday.

Maait expounded that his ministry has submitted the contracts of the assignment to the Internal Trade Development Authority as well as investors to review the draft before sending it to the Egyptian Council of State for legal review before signing them.

“This action comes under Egypt’s President Abdel-Fattah El-Sisi’s directives to expand partnerships with the private sector and raise its contribution to the country’s GDP. Accordingly, a number of contracts will be inked over the coming weeks under the PPP system and in collaboration with the concerned bodies,” Maait explained.

“These efforts aim to boost the sustainable and inclusive development in Egypt, improve the standard of living, uplift the quality of services extended to the citizens, increase economic growth rates, and create more jobs.”

Other projects will be executed under the PPP system in the field of waste management to utilise waste in generating electricity, Maait said.

These projects are expected to be implemented in eight governorates and are being considered by the finance ministry in collaboration with the Ministries of Environment and Local Development, adding that each project will have a total capacity of 1000 tonnes per day as a first phase, he added.

The total investment cost of these projects amounts to EGP 7 billion, according to the minister.

Meanwhile, the finance ministry finalised the revision of the contracts related to establishing the second paveme for Damietta Por ar a cost of EGP 1 billion, according to Maait.

Additionally, four major international coalitions are expected to participate in a bid to establish Egypt’s second dry port in 10th of Ramadan City at cost of EGP 2 billion, and the contract will be signed with the winner in October 2022.