USD 400 mn multi-purpose station to be built at Nuweiba port

The Ismail cabinet approved the establishment of a USD 400 mn multi-purpose station at Nuweiba port on an area of 137k sqm, Al Borsa reports. The project’s conditions are being finalized, says Red Sea Ports Authority chairman Hisham Abou Senna, without specifying when the project will be launched. Separately, feasibility studies for a freezone in Nuweiba were completed, according to Abou Senna. Talks are underway with the Red Sea governorate to allocate a 1 mn sqm land plot for the project.