IDG + SSSC to establish, operate, manage Beni Suef dry port in Egypt

IDG + SSSC ink MoU to develop and operate Beni Suef dry port :Egypt-based Samcrete Holding’s industrial arm Industrial Development Group (IDG) has “initiated the process” to ink an MoU with Star Shine Shipping & Logistics (SSSC) to develop and operate the new dry port in Kom Abu Radi in Beni Suef in Egypt, according to a press release (pdf). Star Shine will be the operating partner in the consortium, the press release adds. Representatives of IDG could not confirm the value of investments planned for the port.

The details: The initial phase of the dry port spans over an area of 33 fedans, according to the statement. The port project could require some USD 500 mn in investments for the expansion of the port, Al Borsa reports, citing sources in the know. The new port will be situated near a logistics area, storage hangars, administrative areas, and a technical training school, sources reportedly told Al Borsa.

What’s next: The company is currently carrying out a feasibility study for the project, Managing Director of IDG Shady William told Enterprise Logistics.

A port + an industrial complex: IDG has also submitted an expression of interest to Beni Suef governorate to develop, manage and operate an industrial complex in the Koum Abou Rady, spanning over an area of 70 feddans, the press release added.