2024/04/19

MoU between Al-Ghanim Group and Egypt on Berenice naval port

Minister of Transport Kamel El-Wazir witnessed the signing of a Memorandum of Understanding (MoU) for the construction, development, superstructure, operation, management, utilization, maintenance, and delivery of Berenice Naval Port between Berenice Naval Port Company, a subsidiary of the Red Sea Ports Authority, represented by its Chairman Major General Mohamed Abdel Rahim, and Berenice Regional Ports Company, a subsidiary of Kuwaiti Al-Ghanim Group, represented by its Chairperson Raham Fawaz Al-Ghanim.

The MoU outlines a framework for enhanced collaboration between the two parties. This partnership aims to ensure effective cooperation in areas of mutual interest, focusing on the development, operation, and management of Berenice Naval Port especially since Berenice Regional Company is a major developer and manager of ports, industrial zones and free zones, and a highly experienced operator of integrated multimodal logistics services in Kuwait and internationally.

During the signing ceremony, Minister of Transport Kamel El-Wazir welcomed warmly the Chairman and leadership of Berenice Regional Ports Company, a subsidiary of Al-Ghanim Group. The minister expressed his delight in collaborating with Kuwait on this project, expressing his hope that it marks the beginning of a broader partnership between the Ministry of Transport and Al-Ghanim Group in various projects. He emphasized Egypt's commitment to welcoming all Arab investments.

He indicated that the agreement comes within the framework of President Abdel Fattah El-Sisi ambitious plan to transform the Egypt into a regional hub for transport, logistics, and transit trade.

The plan aims to integrate tourism, industry, agriculture, and maritime locations through a network of freeways, highways, and railways.