Dubai Ports contract amendment yields US$750 mn

Official sources at the Transport Ministry said the amendments introduced to the contract that was signed in 2008 with Dubai Ports achieve a return on investment of US$750 million for Egypt.
The sources said the container circulation fee was raised from $0.60 per container to $6. Also, prices of lands in the logistics area were increased.
It was also agreed to start working on the second container station to be completed in October 2017. The station was originally signed for in 2010 to be completed in 2014.
The sources also said that Transport Minister Hany Dahy modified the contract with Sonker, the company that manages the liquid bulk terminal in Sokhna, to include a 12 percent margin for the Red Sea Ports Authority, as there was no margin in the original contract.
They said the ministry will offer Abu Dhabi Ports the third liquid bulk terminal in Sokhna during the Sharm al-Sheikh economic summit in March.
Edited translation from Al-Masry Al-Youm

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