MoU signed for setting up $7-bn Turkish industrial zone in Egypt
27 Mar 24 1 min read
Insights
- Turkiye's Dogus Group and the Egyptian Group for Multipurpose Terminals have signed an MoU to set up a Turkish industrial zone in Jarjoub.
- The $7-billion project includes a commercial port, free and logistical zones, rail connectivity, a cargo and a passenger terminal, a yacht marina and an industrial zone.
- Operations are expected to start in early 2026.
The $7-billion project includes a commercial port, free and logistical zones, railway connectivity, a cargo terminal, a passenger terminal, a yacht marina and an industrial zone.
Feasibility studies will be conducted for six months followed by project implementation procedures and obtaining the requisite approvals, Egyptian newspapers reported.
Operations for the project are expected to commence in early 2026.
Egypt’s Central Agency for Public Mobilisation and Statistics (CAPMAS) reported in February a 7.1-per cent drop in Turkish investments in Egypt, with a recorded value of $167.2 million during fiscal 2022-2023 compared to $179.9 million in fiscal 2021-22.
The bilateral trade volume declined by 15.7 per cent year on year, reaching $6.6 billion last year, CAPMAS figures show.
Fibre2Fashion News Desk (DS)
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