The cabinet greenlit several decisions during its weekly meeting yesterday, including on waterfront development, maritime cooperation, and railway manufacturing, according to a cabinet statement.

#1- New rules for Nile waterfront facilities: The ministers approved amendments to the executive regulations of the Water Resources and Irrigation Law that increase the occupancy rates of riverbank land licensed to tourist facilities, clubs, and other recreational establishments to 40%, with an additional allotted 10% if the facility includes marina activities.

#2- Maritime cooperation with Oman gets the nod: The Madbouly cabinet also approved a presidential decree on a maritime transport and port cooperation agreement with Oman. The agreement — signed during President Abdel Fattah El Sisi’s visit to Oman in 2022 — aims to develop economic and trade relations between the two countries through organizing maritime activities, removing obstacles to maritime transport development, and exchanging expertise in port management and vessel maintenance.

#3- Alstom gets longer lease for railway complex: The cabinet approved extending French rolling stock manufacturer Alstom’s land lease period to 30 years from 15 years for its planned railway manufacturing complex in Borg El Arab in Alexandria. The extension comes as the company plans significant investments in the complex, including two factories on 40 acres alongside an additional 50 feddans for future expansion. The first phase of the project’s development will see a components factory built on 13 acres, while the second phase will add a vehicle factory on 27 acres.

Remember: Alstom in 2023 pledged some EUR 300 mn to establish two factories in Borg ElArab to produce electrical systems and metro and monorail rolling stock.

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