Egypt has recently entered into a memorandum of understanding (MoU) with the South Korean company STX to develop the Mediterranean port of Jarjoub and its affiliated economic logistics zone.

Cooperation with STX Company

The primary objective of this partnership is to build grain silos at Jarjoub, along with a factory to reassemble used cars from Korea and Japan for re-export to African countries.

Plans also include the construction of an oil pipeline connecting Libya to the port of Jarjoub, establishment of housing city as future expansion for Jarjoub zone, establishment of tourism villages, reclamation of agricultural lands and establishment of textile factory.

This MoU marks the third significant project within the economic logistics zone. The first project involved the establishment of a grain processing and trading station, while the second project focused on expanding green hydrogen investments.