INFRASTRUCTURE-

Abu Dhabi Ports silo project up for grabs:Abu Dhabi Ports (ADP) and its subsidiary Transcargo International (TCI) are planning to launch a tender for the construction of nine silos for storing cement and dry bulk cargo at a cost of some EGP 1 bn, Al Mal reported yesterday, citing sources it says are in the know. The silos are expected to be up and running by the end of 1Q 2024, according to the newspaper’s sources. The Emirati company signed two 15-year agreements in mid-March to develop cement terminals at the Al Arish and West Port Said ports.

BACKGROUND- ADP, which is majority owned by Abu Dhabi wealth fund ADQ, took over Transcargo last year after it acquired its parent company International Associated Cargo Carrier for USD 140 mn.

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