Egypt + Kuwait’s Alghanim partner on developing Berenice Port: Berenice Port Company (BPC), a division of Egypt’s Red Sea Ports Authorities, has inked an MoU with a subsidiary of Kuwaiti investor Alghanim group, to develop, manage, operate, maintain, and re-deliver Berenice Port, in a bid to develop Egypt as regional transit trade and logistics hub, according to a statement released on Thursday. No investment ticket or timeline for the agreement were disclosed in the statement.

Why Berenice? The agreement looks to leverage Berenice’s strategic location to increase the volume of trade between Upper Egypt and Africa, benefitting from road networks connecting the port with other hubs along Egypt’s Red Sea coast, cities in Upper Egypt, and the Arqin border crossing with Sudan, the statement said. The partnership looks to develop infrastructure at the port to boost the handling of containers and goods, improve transport services for pilgrims, and integrate with air and land links to the rest of the region.

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