CAIRO: UAE has allocated $10 billion to invest in Egypt, with the bulk of investments to be allocated to the ports, head of Abu Dhabi Ports, Mohamed Juma Al Shamsi, said.
This happened during a meeting with the Egyptian Minister of Transport, Kamel Al-Wazir, during his visit to the UAE.
Al-Wazir explained Egypt is implementing a comprehensive plan to develop the maritime transport system and comprehensive development of all Egyptian ports.
This comes in line with Egypt’s efforts to transform into a center for global trade and logistics, he added.
The two sides also discussed cooperation projects in the field of river transport and they agreed to sign a deal during the coming period to operate a line for transporting goods across the Nile between Minya, Alexandria, and Damietta.
