The European Bank for Reconstruction and Development (EBRD) has granted Egypt a loan worth €25 million for financing the country’s first dry port in the city of 6th of October, reports say.
The financial facility will cover the design, development, construction, operation, and maintenance of the project dubbed the 6th of October Dry Port (DP6).
The project is the first public-private partnership (PPP) project in the sector and the first under the EBRD Green Cities program in Egypt.
Upon completion, the DP6 will have an extended gateway to the seaports located in the northern and eastern regions of the country, thus supporting the existing port infrastructure and logistics market.
It is also expected to help make logistics more efficient as it will become the final destination of cargo and will provide efficient customs inspection and clearance procedures.
Likewise, it will reduce congestion in the sea ports and create economies of scale through the use of intermodal rail services at the sea ports. It will also improve the overall reliability and cost-efficiency of the logistical processes for the dry port’s future clients.
A consortium of Elsewedy Electric, Schenker Egypt, and SLP Logistics are owners of the port. The financing is part of a total investment package of $60 million.
The Arab country is a founding member of the bank which has invested more than €7.7 billion in 132 projects across Egypt since its inception in 2012.
