The European Bank for Reconstruction and Development (EBRD) disbursed a €25 million loan on Monday to support the construction of Egypt’s first inland dry port, which will be located west of Cairo in 6th of October City.
The EBRD said that the loan is directed to the October Dry Port Company, a special-purpose entity established by a consortium that includes El-Sewedy Electric, Schenker Egypt, and SLP Logistics.
The construction and development of the 6 of October Dry Port is the first to be implemented in the sector under the public-private partnership (PPP) model and the first under the EBRD’s Green Cities Programme in Egypt.
Egypt’s first inland dry port will function as an extended gateway to the deep seaports located in the northern and eastern regions of the country, as well as supporting the existing port infrastructure and logistics market.
“The 6 of October Dry Port will help make logistics more efficient, as it will become the final destination for cargo and will provide efficient customs inspection and clearance procedures. This will reduce congestion in the seaports and create economies of scale through the use of intermodal rail services at the seaports. It will also improve the overall reliability and cost-efficiency of the logistical processes for the dry port’s future clients,” the EBRD said in a statement yesterday.
