Gov’t liquidates loss-making Egyptian Company for Ports and Dry Ports

The Transport Ministry has liquidated the Egyptian Company for Ports and Dry Ports for incurring EGP 13 mn in losses since it was formed in June 2017, a source told Al Mal. The company also failed to join one of the bidding consortiums to build the USD 100 mn 6 October dry port, despite competing for the project being one of the chief reasons the government had founded the company in June 2017. The company was 85%-owned by the General Authority for Ports and Dry Ports and 15% by Al Ahly Capital.