{"id":80397,"date":"2024-08-15T00:00:00","date_gmt":"2024-08-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/08\/15\/alexandria-reportedly-eyes-egp-6-bn-loan-to-develop-ports-infrastructure\/"},"modified":"2024-08-15T00:00:00","modified_gmt":"2024-08-15T00:00:00","slug":"alexandria-reportedly-eyes-egp-6-bn-loan-to-develop-ports-infrastructure","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/08\/15\/alexandria-reportedly-eyes-egp-6-bn-loan-to-develop-ports-infrastructure\/","title":{"rendered":"Alexandria reportedly eyes EGP 6 bn loan to develop port\u2019s infrastructure"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Is Egypt gearing up to develop Alexandria Port?<\/strong> The Alexandria Port Authority is reportedly seeking to borrow a syndicated EGP 6 bn loan from an alliance led by the National Bank of Egypt to develop the port\u2019s infrastructure and enhance its operational efficiency, <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/banks\/51118\/%D9%85%D9%88%D8%A7%D9%86%D8%A6-%D8%A7%D9%84%D8%A5%D8%B3%D9%83%D9%86%D8%AF%D8%B1%D9%8A%D8%A9-%D8%AA%D8%AE%D8%B7%D8%B7-%D9%84%D8%A7%D9%82%D8%AA%D8%B1%D8%A7%D8%B6-6-%D9%85%D9%84%D9%8A%D8%A7%D8%B1%D8%A7%D8%AA-%D8%AC%D9%86%D9%8A%D9%87\/\" style=\"\" rel=\"noopener\">Ashraq Business<\/a> reported, citing sources with knowledge of the transaction. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know: <\/strong>The loan \u2014 guaranteed by Egypt\u2019s Finance and Ministry \u2014 is expected to be approved this month after term agreements are finalized. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> It was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/69dfd23a-de6e-403f-899f-9fd78d917fa5\/today:-ad-ports-inks-agreement-with-karachi-port-%2B-gcc-pmi-reports-are-out\" style=\"\" rel=\"noopener\">reported earlier this year<\/a> that Egypt\u2019s Suez Canal Authority, the General Authority for the Port of Alexandria, and the Damietta Port Authority will establish a joint venture dubbed the Suez Canal Company for Seaport Development.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A gateway to Egypt\u2019s trade: <\/strong>The seaport of Alexandria stands as a gateway for <a target=\"_blank\" href=\"https:\/\/apa.gov.eg\/ar\/page\/port-information\/about-port\/#:~:text=%D9%8A%D8%AD%D8%AA%D9%84%20%D9%85%D9%8A%D9%86%D8%A7%D8%A1%20%D8%A7%D9%84%D8%A5%D8%B3%D9%83%D9%86%D8%AF%D8%B1%D9%8A%D8%A9%20%D8%A7%D9%84%D8%A8%D8%AD%D8%B1%D9%8A%20%D9%85%D9%88%D9%82%D8%B9,%D8%AC%D9%85%D9%87%D9%88%D8%B1%D9%8A%D8%A9%20%D9%85%D8%B5%D8%B1%20%D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9%20%D9%88%D9%85%D9%8A%D9%86%D8%A7%D8%A6%D9%87%D8%A7%20%D8%A7%D9%84%D8%B1%D8%A6%D9%8A%D8%B3%D9%8A.\" style=\"\" rel=\"noopener\">60% of Egypt\u2019s foreign trade<\/a>. The port handled 5.1k ships in the FY 2023-2024, marking a 24.5% y-o-y increase, according to a <a target=\"_blank\" href=\"https:\/\/apa.gov.eg\/en\/%d9%86%d8%ac%d8%ad%d8%aa-%d8%a7%d9%84%d9%87%d9%8a%d8%a6%d8%a9-%d8%a7%d9%84%d8%b9%d8%a7%d9%85%d8%a9-%d9%84%d9%85%d9%8a%d9%86%d8%a7%d8%a1-%d8%a7%d9%84%d8%a3%d8%b3%d9%83%d9%86%d8%af%d8%b1%d9%8a%d8%a9\/\" style=\"\" rel=\"noopener\">press release<\/a>. The port also saw a 18.4% y-o-y increase in general cargo volumes, with liquid bulk cargo recording a 52% y-o-y increase to 6.7 mn tons. The port also handled 2 mn containers during the period, recording a 37.4% increase, the statement added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New shipping services:<\/strong> French Shipping giant CMA CGM <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/f75fb6d6-5249-4faf-9d1c-0f03ccb3a2d7\/regional-shipping-and-aviation-updates-from-qatar-and-jordan\" style=\"\" rel=\"noopener\">launched its new EMED 1 Service<\/a> connecting Turkey, Egypt, and Lebanon, a weekly service, which will be operated using a single vessel with a nominal capacity of 1.1k TEU, will link Alexandria Port, Antalya Port in Turkey, and Beirut Port in Lebanon. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s been some recent activity in Alexandria: <\/strong>A consortium of state-owned companies plans to construct a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/97116dc9-4f59-4027-9bbf-a36875f38d82\/egyptian-consortium-inks-usd-600-mn-agreement-to-establish-offshore-facility-%2B-import-pipeline\" style=\"\" rel=\"noopener\">USD 40 mn pipeline<\/a> to transport imported liquified ethane gas derived from US shale gas from a station at <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/97116dc9-4f59-4027-9bbf-a36875f38d82\/egyptian-consortium-inks-usd-600-mn-agreement-to-establish-offshore-facility-%2B-import-pipeline\" style=\"\" rel=\"noopener\">Alexandria's Dekheila Port<\/a> to Sidi Kerir Petrochemicals (Sidpec) and the Egyptian Ethylene and Derivatives Company (Ethydco). Another consortium led by Belgian energy firm Deme Group will set up a green hydrogen and green ammonia plant in the Port of Gargoub\u2019s industrial zone after the firm inked an agreement with the New and Renewable Energy Authority (NREA) and the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/e7d3e1a1-ce75-4e68-af8c-20a3ca2c4284\/the-egypt-eu-investment-summit-brings-big-export-potential-for-egypt\" style=\"\" rel=\"noopener\">Alexandria Port Authority<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The loan is reportedly being finalized with an alliance led by the National Bank of Egypt to develop the port\u2019s infrastructure and enhance its operational efficiency<\/p>\n","protected":false},"author":1,"featured_media":80398,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[38],"tags":[165,49,37],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-80397","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ports","tag-debt-watch","tag-egypt","tag-ports","wpautop","entry"],"acf":{"mongo_id":"385305c1-d2a2-4b61-9b92-4dcdc4d9192f","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/1405.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Alexandria 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