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Egypt’s ports are not for sale or acquisition: Minister

Egyptian Transport Minister Kamel al-Wazir stressed on Friday that Egypt’s ports are not for sale or acquisition.

He stated that the contracts signed by the government, represented by the ministry with international alliances in various sectors, are strategic partnerships and not takeovers or monopolies.

The ministry is now implementing and managing projects with the expertise of its national companies or in partnerships with alliances that add international expertise to Egypt, through direct investments in various transport sectors such as sea ports, railways, river transport and other projects.

Wazir expressed his happiness with the signing of a contract granting the commitment to build, develop, manage, operate, market, maintain and redeliver the passenger and cruise ship terminals at the ports of Hurghada, Safaga and Sharm el-Sheikh to the General Authority of Red Sea Ports and AD Ports Group.

In the coming days, a new contract will be signed between AD Ports Group and Alexandria Port in a strategic partnership project, he said.

He assured that this deal is neither a sale nor an acquisition, but a partnership between the two sides.

This contract comes out of presidential directives to maximize yacht and cruise ship tourism in Egypt, he said.

It also comes in light of the cooperation launched between the ministry and the AD Ports Group in maritime transport.

This comes to extend ooperation with major international companies specialized in the management and operation of various stations, he said, in order for Egypt to become a center for global trade and logistics and to maximize transit trade.

This contract will contribute to increasing national income, he said.

It has direct and indirect returns, such as providing job opportunities and returns on factories and tourist destinations for tourists and various tourist activities there, aiding the increase of national income, he explained.

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