Prime Minister Ibrahim Mahlab on Saturday witnessed the signing of a final agreement between Red Sea Harbor Authority and Dubai Harbors International to set up a liquid bulk terminal at Sokhna Port on the fringe of the Egypt Economic Development Conference (EEDC), currently in session here.
The signing ceremony was attended by Transport Minister Hani Dhahi and his UAE counterpart Sultan Al Gaber.
The agreement was clinched between Red Sea Harbors Authority Chairman General Hisham Abu Sena and Dubai harbors International Chairman Jamal Majed Khalfan Bin Theniyeh.
Minister of Transport Hani Dhabi said the project will include the expansion of existing liquid bulk terminals and the establishment of new storage warehouses on an area of 400,000 meters to handle petrochemicals and ship fuel.
General Abu Sena said the investment agreements are worth EGP 4 billions, noting that the Red Sea Harbors Authority will soon prepare the quays and the terminal to operate the project as soon as possible.