23 July 2024 04:52 AM

Economic Zone in Jarjoub

Saturday، 06 January 2024 - 11:41 AM

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.

The MoU was signed by the Egyptian Ministry of Transport and STX on 28/11/2023. This MoU forms part of President Abdel-Fattah El-Sisi's vision to establish Egypt as a global center for trade and logistics.

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.

The Jarjoub Port Company will have the responsibility of equipping, managing, operating, and maintaining the Jarjoub sea port, including its docks and infrastructure, in compliance with standard technical specifications. As part of the collaboration, STX will conduct a comprehensive feasibility study on the Jarjoub Port development project, covering all its stages.

The area of Jarjoub sea port reaches 2169 acres and it is expected to provide nearly 30.000 job opportunities. The port will be developed over three phases under the B.O.T system, where the cost of Phase One reaches nearly EGP 2 billion.

Related Stories

Most Visited

From To