Egypt’s General Authority for Land and Dry Ports, affiliated to the transport ministry, has signed a memorandum of understanding with an international consortium to carry out an initial feasibility study for developing and operating a dry port and logistics zone in New Sohag City.
The ministry said in a statement on Tuesday that the study for the 45-acre project would be completed by the consortium over a 9-month periodThe consortium carrying out the feasibility study consists of Pathfinder, a US-based investment bank; Active Freight Network, an Egypt-based global platform of freight forwarders and logistics companies, and the UK-based HAE Group, which provides General Sales and Service Agent services in aviation sector.
The project is expected to involve an investment of $100 million, according to Mohsen Hussein, Regional Cargo Manager-North Africa & Levant, HAE Group.
He told Zawya Projects that the project is important for the development of’Upper Egypt’, and would create 3,500 direct jobs and 16,000 indirect jobs. He added that construction work is expected to start in the second quarter of 2021.