Egyptian Minister of Transport Kamel el-Wazir attended a signing ceremony for a memorandum of understanding (MoU) between Egyptian Group For Multipurpose Terminals (EGMPT), the Ministry of Transport’s commercial arm for maritime transport and logistics, Türkiye’s Dogus Group and Inventure alliance to lay the foundation for a Turkish logistics industrial zone in the economic zone in Gargoub port in Marsa Matrouh.
The project is expected to create more than 20,000 jobs and pump direct investments worth more than $7 billion in all of its phases.
The new project is aimed at taking advantage of Gargoub’s strategic location to build a number of facilities. The Inventure alliance will design, construct, manage and operate a commercial port, free and logistical zones, and link them to a railway network, a multi-purpose cargo terminal, a passenger terminal, a yacht marina and an industrial area.
The new project is designed to boost trade with African countries in a bid to maximize Egypt’s role in Africa.
The Ministry of Transport and the Turkish investors also plan to launch international tourist centers to enhance the local travel industry, especially cruise tourism, and to create an integrated urban community and a private airport in the city of Gargoub.
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