First river port development tenders will be issued in early FY2018-19

The first tenders for the development of ports along the Nile River will be issued to investors in early FY2018-19, River Transport Authority (RTA) head Abdel Azim Mohamed tells Al Mal.. Abdel Azim said last week that an unnamed Saudi-Bahraini consortium was close to signing a USD 100 mn agreement to develop a waterway connecting the Port Said industrial zone with the Nile River. The Transport Ministry had said it was planning to launch tenders for the development of four Nile ports once legislation regulating river traffic and commercial transport is passed. The bill, which the Ismail Cabinet signed off on in August last year, is currently with the House of Representatives.