Deputy Prime Minister for Industrial Development Minister of Transport and Industry Kamel el Wazir witnessed the signing of a memorandum of understanding (MoU) to establish, run and develop an integrated logistics industrial zone in Damietta Port.
The MoU was inked between the Holding Company for Maritime and Land Transport and Elsewedy Electric Company on Saturday.
The deal aims to boost investment and trade ties between both sides through operating and upgrading the zone over an area of 6 million square meters.
The Transport Ministry said in a statement that such a step comes within the framework of President Abdel Fattah El Sisi’s directives to develop the industrial sector and maximize cooperation and partnership with the private sector to contribute to localizing vital industries.
