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Egyptian Minister of Transport: It is impossible to sell the ports of Egypt and Sisi developed a plan he called the stabilization of the pillars of the state

Egyptian Minister of Transport Kamel Al-Wazir confirmed that Egypt’s ports cannot be sold, explaining that “no one will buy our companies and control the Egyptians”, noting that “The holding company for Egyptian ports will include 7 major ports, and these ports will be merged under one company and it is the right of the investor who has appointed a board member to control his money in the company.

In a statement to the Egyptian channel Sada al-Balad, he pointed out that “the whole country and the President of Egypt, Abdel Fattah el-Sisi, developed a plan and called it the stabilization of the foundations of the state and the organization of institutions, and then a new republican stage came in thinking, lifestyle and method of production.

The Minister of Transport spoke about the signing of an agreement with the global alliance on the construction and development of the superstructure, operation and delivery of the container terminal in the port of Damietta, and that the global alliances are seeking to invest in Egypt because of its stability, and noted that the management and operation of the Egyptian ports account for 90% of Egyptians, and that the cost of port infrastructure is 4.5 billion Egyptian pounds.

Source: El Iktisad

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