Red Sea ports target $72mn investments this fiscal year

The General Authority for Red Sea Ports, an affiliate of the Ministry of Transportation, targets attracting investments worth 620 million Egyptian pounds (US$79 million) in the current fiscal year 2015-2016.

These investments are to include the completion of a ground station for oil waste, the establishment and supply of a marine tractor with a tensile strength of 50 tonnes in Hurghada port.

Furthermore, they would encompass the implementation of an electronic management system for Adabiya (west of Suez) and Nuwaiba (eastern part of Sinai Peninsula) ports, and the completion of Safaga port development as well as upgrading the lighthouses and other navigational assistances.