Egypt signs MoU to establish two logistics zones in Red Sea – minister

Egypt has signed a memorandum of understanding (MoU) to establish two new logistics zones, Supply Minister Ali Moselhy said on Tuesday.

The MoU was signed by Red Sea Governor Ahmed Abdullah and Ali Moselhy to establish the logistic zones spanning over 120 feddans.

“One of the logistics zones will be built in Hurghada on a space of 60 feddans to serve hotels and tourists there,” Moselhy further said in a press conference.

The second logistics zone will be in Safaga town, 53 km (32.9 mikles) south of Hurghada, over 60 feddans, the minister added.

“We are looking to launch five new investment opportunities in Red Sea, New Valley, and South Sinai governorates,” Moselhy said.