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Suez Steel to operate dry bulk pier: Egypt’s Suez Canal Economic Zone (SCZone) inked a USD 120 mn contract with Suez Steel to operate and maintain two piers and a storage yard dedicated to iron and steel dry cast products at Al Adabiya Port, according to a statement released on Thursday. The timeline for the project was not disclosed.
What we know: Under the contract, Suez Steel will operate and maintain pier 4 and 5 at Al Adabiya Port, with a berth of 650 m in length and 17 m in depth. The firm will also operate a storage and circulation yard for iron and steel dry cast goods. The SCZone has dedicated some 30k sqm at the port to the project.
Boosting trade capacity: Once operational, the piers expects to handle some 5 mn tons of dry cast goods annually in its initial phase, reaching up to 10 mn tons of dry cast goods annually within the first five years. The port is currently responsible for the circulation of an average of 7 mn tons of dry and liquid casting goods annually.
REMEMBER- Egypt’s Transport Ministry is reportedly looking into establishing five new dry ports across the country, and will offer up management and operations to the private sector. The dry ports will include a 100 acre port in New Fayoum, a USD 176 mn 125 acre dry port in El Basatin, a 75 acre dry port in Sadat City, a c. USD 160 mn 146 acre dry port in New Beni Suef, and a c. USD 176 mn 100 acre dry port in El Tur City.
