$183 Million Invested On River Ports by Citadel Capital

In a planned wave of investment, $183 million have been invested by private equity firm of Egypt Citadel Capital. This investment was framed on three Nile river ports with an intention of putting in more cash in investment of two ports more. This investment drift was reported by al-Mal, on Sunday.

It has been reportedly said the private firm also plans to invest in Sudanese river ports with a further intention of connecting the port network to Juba in south from Alexandria in north. This linkage probably will be attained in next five years.

The transport Minister Alaa Fahmy addressing the state news agency MENA elaborated on further schemes by it expects to elevate cargo transportation done through the Nile from the present figure of 2.5 million tonnes to 2.5 million tonnes in coming years. In order to push the private investments into transport sector, the Government plans to tender several river ports.

Tanash river port in Cairo was inaugurated on Saturday. With 3,200 metres long quay wall, 27,500 square metre Tanash port can take delivery of up to 2 million tonnes goods along and also 110,000 containers.