Egyptian Transport Minister Kamel al-Wazir commented on the signing of the final contract for the operation, management and maintenance of the multi-purpose terminal at the Port of Safaga between the Red Sea Ports Authority and the ports of Abu Dhabi .
During a telephone conversation with TV presenter Amr Adib in his show “al-Hekaya” (The Story), on MBC Masr, on Sunday evening Wazir said that “Egypt is not selling its ports. “The contract between the Ministry of Transport and the ports of Abu Dhabi for the operation of the Safaga 2 terminal does not mean that the state is selling its properties. Corporate port management is not a novelty, it is an activity that is present all over the world.”
The minister stressed that “Egypt has full sovereignty over the port of Safaga and Egypt will continue to have the right to repair the infrastructure and superstructure of the port. We are trying to capitalize on huge investments, and the golden triangle has a promising future, and the Emirati investor knows this through feasibility studies.”
Wazir praised the coordination between Egypt and the Emirates to establish a world-class aluminum plant and noted that the multi-purpose terminal at Safaga Port will serve the project.
He pointed out that the cost of the Safaga 2 Terminal exceeds LE 2.5 billion, and the minimum turnover through the listing will bring LE 1.5 billion to Egypt over the course of the concession contract.
Wazir explained that there are two national companies working to build the superstructure of the Safaga 2 Terminal with Emirati investment.
