Egypt, Singapore reaches deal on building new container
Head of Suez Canal Authority Mohab Mamish
Cairo - Mena
Minister of Investment and International Cooperation Sahar Nasr and Head of Suez Canal Authority Mohab Mamish reached on Friday a deal with the Port of Singapore Authority (PSA) to break deadlock in negotiations over a new container terminal in East Port Said Harbour.
The breakthrough in the deal came after Mamish, Nasr and Egypt's ambassador to Singapore Mohamed Abou el Kheir had talks with Singaporean Prime Minister Lee Hsien Loong and Transport Minister Khaw Boon Wan, as well as a number of high-level Singaporean officials.
Mamish explained that building a new container terminal will allow more ships to enter the port, thus increasing revenues.
He deemed his visit to Singapore as "successful", adding that its results will be reflected in the increase of investments in the Suez Canal Economic Zone and Egypt in general during the coming period.
The deal between Egypt and Singapore was reached after months of delayed negotiations.
Source: Mena
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