Two European companies to build USD 750 mn Damietta logistics zone

The Damietta Port Authority signed an MoU yesterday with European companies Eurogate Terminals and Contship Italia to establish the largest logistics zone in the MENA region with EUR 750 mn in investments, the ministry said in a statement. The center will include a container station, a railway, a dry port and distribution zone, and will be completed by the end of 2022.