The Egyptian Cabinet agreed upon the Egyptian General Authority for Investment and Free Zones’ (GAFI) request to build a free zone under the name of Trans Egypt Company for managing and operating terminals, according to an official statement on November 23rd. Spanning an area of 21,690 sqm at Alexandria Port, Egypt Trans aims at promoting investment projects that ensure the flow of foreign currencies, creating a stable investment climate, and offering jobs. Egypt Trans is projected to have a positive impact on all economic sectors related to the activities of free zones. Furthermore, the Cabinet endorsed a request by the Ministry of Transport regarding the required estimated cost for the electric feeding system of the first line of the high-speed train to run through Ain Sokhna, Marsa Matruh, and Faiyum. Provided by SyndiGate Media Inc. (Syndigate.info).

Source: The North Africa Journal November 25, 2022 13:14 UTC