Latest news with #seaports
Zawya
4 days ago
- Business
- Zawya
Egypt: President El-Sisi Reviews Progress of Transport, Industry, and Infrastructure Projects
Today, President Abdel Fattah El-Sisi met with Prime Minister Dr. Mostafa Madbouly, Deputy Prime Minister for Industrial Development and Minister of Transport and Industry Lieutenant General Kamel El-Wazir, and Presidential Advisor for Financial Affairs Lieutenant General Ahmed El-Shazly. The Spokesman for the Presidency, Ambassador Mohamed El-Shenawy, said President El-Sisi was briefed during the meeting on the implementation status of projects under the Ministry of Transport and Industry, particularly those related to the railway system. This included Al-Arish –Taba railway line and the completion of Bir El-Abd–Al-Arish railway line projects that are expected to contribute significantly to the development of the Sinai Peninsula and to the establishment of a logistical corridor linking the Red Sea to the Mediterranean Sea. The meeting also addressed updates on the development of seaports, given their pivotal role in the national development agenda. In this regard, the implementation progress of several key ports was reviewed, including Ras Sedr Port, Gargoub Port, Abu Qir Port, the Grand Port of Alexandria, the new El-Max Port, the continued development of Sokhna Port, the establishment of Taba Seaport, and ongoing development at Damietta Port. The meeting further covered the progress in constructing the fourth metro line in Cairo and the high-speed electric train project. Additionally, efforts to develop and enhance industrial zones in Wadi Al-Saririya and Al-Motahhara in Minya Governorate, and northern Fayoum in Fayoum Governorate, were discussed. These initiatives fall within the broader framework of promoting industrial development in Upper Egypt and creating more job opportunities for local residents, especially in labor-intensive industries such as textiles and ready-made garments. President El-Sisi emphasized the need to complete all projects according to their specified timelines. The President gave directives to continue efforts to accelerate the implementation of integrated developmental logistical corridors that link production areas to the developing seaports, transforming them into world-class, high-capacity hubs. This integration with Egypt's modern transportation network including roads, highways, and railways is vital for positioning Egypt as a global center for trade and logistics. Distributed by APO Group on behalf of Presidency of the Arab Republic of Egypt.
Reuters
24-07-2025
- Politics
- Reuters
Russian overnight attack hit Odesa region sea ports, damaged logistics sites, Ukrainian official says
KYIV, July 24 (Reuters) - Russian overnight attack on the southern region of Odesa hit sea ports and transport connections, Ukrainian deputy Prime Minister Oleksiy Kuleba said on the Telegram messenger on Thursday. "Last night, Russia struck civilian infrastructure in the Odesa region – seaports, transport hubs, and residential areas," he said.
Zawya
22-07-2025
- Business
- Zawya
Egypt eyes attracting Kuwaiti investments in ports, logistics zones
Egypt and Kuwait reviewed promising investment opportunities in Egypt, especially in the field of seaports, dry ports, logistics zones, and industrial zones, according to a statement. Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel El-Wazir met with Kuwait's Crown Prince Sheikh Sabah Khaled Al-Hamad Al-Sabah to discuss strengthening cooperation between the two countries. The two officials also outlined plans to maximize and attract Kuwaiti investments to Egypt and explored ways to register Egyptian companies in the Tender Committee. They also reviewed the developments in the Egyptian economy, lauding the government's efforts to enhance the investment climate. President Abdel Fattah El-Sisi directed efforts to reinforce cooperation with Kuwait in all fields, according to El-Wazir. El-Wazir added that a delegation of 17 Egyptian companies is interested in cooperating with the Kuwaiti side in implementing development and infrastructure projects planned by the Kuwaiti government. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Wall Street Journal
17-07-2025
- Business
- Wall Street Journal
China Threatens to Block Panama Ports Deal Unless Its Shipping Giant Is Part of It
China's government is threatening to block a deal that would transfer ownership of dozens of seaports to Western investors if Cosco, China's largest shipping company, doesn't get a stake. The proposed sale includes two ports at the Panama Canal and more than 40 others around the world, all owned by Hong Kong-based CK Hutchison 1 0.52%increase; green up pointing triangle.
The National
16-07-2025
- Business
- The National
The global trade reset bodes well for the GCC's maritime assets
Rather like catching a high tide, it has been said that the key to success is being in the right place at the right time. But location and timing alone do not guarantee success, rather they create the conditions necessary for victory. That is one of the key lessons I learnt from both my military and investment careers. In today's volatile global trading landscape, it is a lesson that applies to the Gulf's economic trajectory. This is because it is not just the region's geographic location that makes it an emerging trading hub – it's everything else the GCC has spent decades building that positions it to capture the opportunities that will inevitably arise from today's global trade rearrangement. Naturally, that includes infrastructure. The GCC has one of the world's most robust networks of seaports. The Red Sea handles about 12 per cent of global trade, and around 30 per cent of global container traffic, while 30 per cent of the world's seaborne traded oil and 20 per cent of all LNG is exported through the Strait of Hormuz. These ports are multipurpose hubs, handling containers and cargo from every corner of the world. Importantly, however, they are also gateways to a group of economies set to reach a GDP of $3 trillion by 2030. One of the bridges to this opportunity is the Port of Duqm on Oman's south-east coast, facing outwards towards Asia and Africa with direct access to the Indian Ocean. Duqm is a key focus in Oman's National Logistics Strategy 2040, which aims to position the country as a global logistics hub and make the sector the second-largest contributor to gross domestic product. It is a strategy that has attracted significant regional and international investment to Oman's logistics sector – about $6.5 billion since 2023. One of the fundamentals underpinning these investments is renewable energy. In fact, there are huge opportunities for the region's ports from industrial decarbonisation and the global energy transition. The Port of Duqm is currently being expanded to include a new quay wall servicing a low-carbon industrial plant that will supply the green steel sector. Up to 200,000 tonnes of green hydrogen are already generated annually at Duqm from 5 GW of wind and solar energy. Duqm aims to increase production to reach a million tonnes by 2030, becoming a regional centre for renewables. There are huge opportunities for the region's ports from industrial decarbonisation and the global energy transition The fact that Duqm sits at the intersection of the GCC's economies of today and tomorrow makes it a natural destination for capital. It is a beneficiary of – and contributor to – Oman's Vision 2040. It's a long-term investment that will shape the economy and endure for generations. Ultimately, it transcends financial returns, creating sustainable effects for Omani people and businesses. The investment opportunity accommodated at Duqm represents something we will likely see more of over the next five years, not just in Oman, but regionally. We will witness the roll-out of a new template for grand infrastructure plays across the GCC as the region locks in its growth trajectory. Fuelled by national transformations, the delivery of these megaprojects will cement the region as a trade hub and West Asia as a new fulcrum for global commerce. The opportunities are clear and will follow a playbook that Investcorp is well-versed in following: decades of involvement in major infrastructure and real estate projects. Today, Investcorp's real assets portfolio has $16.7 billion of assets under management out of $57 billion of total AUM. A large component of these assets is based in mature industrial markets in the US and include some of the country's highest-profile projects of our time, like the $4.2 billion Terminal 6 Project at John F Kennedy International Airport in New York. One of these infrastructure assets, Resa Power, was recently our most successful exit of the last decade, growing revenues by more than four times under Investcorp ownership. Crucially, models honed in the US – a country with strong fundamentals throughout market cycles – are now becoming relevant to the GCC, where macroeconomic tailwinds and a global energy transition are making infrastructure investments more viable than ever. Now is the right time to apply these models to markets like Oman and the wider GCC, that stand on the cusp of a new economic era. In the near future, GCC logistics hubs will become prime destinations for smart global capital. These are assets that sit at the perfect place in time. On one hand they straddle the region's deep maritime past and its future of technological leadership; and on another, they are coming to the fore during a period of supply chain reconfiguration and a shifting balance of power between East and West. And of course, located between fast-growing markets on multiple continents, they sit at just the right place. The tide is rising – now is the time to catch it.
