Egypt’s President Abdel Fattah El Sisi said on Thursday that huge amount of funds and efforts are needed for better state condition.
He made the remarks during the inauguration of Tahya Masr multi-purpose terminal at Alexandria port.
President Sisi said Alexandria port was not developed for 25 years.
The president asked Transport Minister Kamel Wazir about the cost of developing the port, Wazir responded that the total cost stood at about 60 billion pounds.
Sisi noted that adding 18-kilometer docks in less than two years required great efforts and pressurized state resources to be accomplished as soon as possible.
Sisi said an investor was entitled to implement the first stage of developing Ain Sokhna port, but the development of the Alexandria port needed a huge program to be implemented by the state.
He said Egypt should have benefited from its unique geographical location to become an artery of global trade with about 12-13 percent passing by Egypt.
President Sisi asked about evacuating 900 housing units in Naga’ Iso and Naga’ Aluminum within the framework of developing Alexandria port, Transport Minister Kamel Wazir said people in these housing units moved to Bashayer el Khaeir area at a cost of EGP 1 billion.
Sisi noted that similar measures are being taken in Arish city.
He said the state is doing its best to place Egypt on the world map, noting that it was very hard to implement this project in light of the deterioration of the area and the need to evacuate people.
He said huge amount of funds was spent and now “we talk about a logistic axis from Sokhna to Alexandria.”
President Sisi asserted the importance of the integrated logistics zone in el Metras basin that will house some industrial projects for the state and major companies.
Egypt is now connecting the logistics zone and cargo distribution center directly with Alexandria Port through land, rail, and river transportation networks in a bid to boost the volume of handling cargo at the port and increase storage areas.
The first logistics zone spans over 273 feddans at a cost of EGP 1 billion at El-Metras basin, according to him.
The president underscored the utmost keenness of the political leadership on achieving a better future for the country through the accomplishment of development projects.
He said he is closely following up on all works and projects that are carried out by the state.
President Sisi, meanwhile, said he is very interested in fighting all forms of corruption and overcoming violations on the state-owned assets.
He affirmed the state is maintaining its painstaking efforts to promote development and construction efforts despite current challenges.
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