CAIRO: Three consortiums are competing to build a dry port west of Cairo worth $100 million, the Egyptian finance ministry said on Sunday.
The project will be a public-private partnership between the General Authority For Ports and Dry Land and the winning consortium, to be built on 104 acres in 6th of October City, west of the capital.
It will be built “as a port for customs clearance of containers handled through the Alexandria and Dekheila ports, which will contribute to easing container traffic,” the ministry said in a statement.
Technical and financial bids are expected to be presented in May, after which the winning bidder will be announced, the ministry said. The agreement will last up to 30 years, after which the port will be owned by the state.
Container Corporation of India Ltd. leads one of the consortiums with Egypt’s Hassan Allam Holding and Singapore’s PSA International Pte Ltd.
The second consortium is led by the UAE’s DP World in a partnership with the Egypt-based Holding Company for Maritime and Land Transport SAE.
Egypt’s Elsewedy Electric leads the third consortium, which includes Schenker Egypt and Egypt-based 3A International.
Three groups compete to build 104-acre dry port west of Cairo
Three groups compete to build 104-acre dry port west of Cairo
Closing Bell: Saudi main index closes in red at 10,947
RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Thursday, losing 208.20 points, or 1.87 percent, to close at 10,947.25.
The total trading turnover of the benchmark index was SR4.80 billion ($1.28 billion), as 14 of the listed stocks advanced, while 253 retreated.
The MSCI Tadawul Index decreased, down 25.35 points, or 1.69 percent, to close at 1,477.71.
The Kingdom’s parallel market Nomu lost 217.90 points, or 0.92 percent, to close at 23,404.75. This came as 24 of the listed stocks advanced, while 43 retreated.
The best-performing stock was Musharaka REIT Fund, with its share price up 2.12 percent to SR4.34.
Other top performers included Al Hassan Ghazi Ibrahim Shaker Co., which saw its share price rise by 1.18 percent to SR17.20, and Saudi Industrial Export Co., which saw a 0.8 percent increase to SR2.51.
On the downside, Abdullah Saad Mohammed Abo Moati for Bookstores Co. was among the day’s biggest decliners, with its share price falling 9.3 percent to SR39.
National Medical Care Co. fell 8.98 percent to SR128.80, while National Co. for Learning and Education declined 6.35 percent to SR116.50.
On the announcements front, Red Sea International said its subsidiary, the Fundamental Installation for Electric Work Co., has entered into a framework agreement with King Salman International Airport Development Co.
In a Tadawul statement, the company noted that the agreement establishes the general terms and conditions for the execution of enabling works at the King Salman International Airport project in Riyadh.
Under the 48-month contract, the scope of work includes the supply, installation, testing, and commissioning of all mechanical, electrical, and plumbing systems.
Utilizing a re-measurement model, specific work orders will be issued on a call-off basis, with the final contract value to be determined upon the completion and measurement of actual quantities executed.
The financial impact of this collaboration is expected to begin reflecting on the company’s statements starting in the first quarter of 2026, the statement said.
The company’s share price reached SR23.05, marking a 2.45 percent decrease on the main market.
