ICEC

China’s CRBC to sign memo with Egypt for multipurpose terminal project Monday

Egypt will sign Monday an agreement with a Chinese company on building a multipurpose terminal and business centre in Red Sea ports.

The memorandum of understanding calls for China Road and Bridge Corp (CRBC), part of state-run China Communications Construction Co, to build a multipurpose terminal in Safaga and a business centre in Sharm El-Sheikh port, the Ministry of Transportation said in a statement on Sunday.

CRBC will sign the MoU with the Red Sea Ports Authority in the presence of Egyptian Transportation Minister Hesham Arafat, the statement added.

The Ministry of Transportation announced earlier plans to build a multipurpose terminal in Safaga Port project, to handle containers and general goods by increasing the annual capacity for trading to 1.2 million containers. The project will serve the Upper Egypt development strategy by redirecting traffic to the Safaga Port and using railroads to reduce the load on Upper Egypt road network.

CRBC, one of the largest Chinese state-owned enterprise in the infrastructure sector of Africa, mainly engages in highway, bridge, port, tunnel, drainage, and other civil engineering constructions. It also engages in production and sales of road machinery.

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