Latest news with #RedSeaPortsAuthority
Zawya
10 hours ago
- Business
- Zawya
Egypt: Canal Shipping extends operation deal for 2 storage yards at Safaga Port
Arab Finance: Canal Shipping Agencies has extended its contract with the Red Sea Ports Authority for managing and operating two cargo storage yards at Safaga Port to 10 years for each one, according to a bourse disclosure. The company inked a partnership agreement with the Suez Mechanical Stevedoring Company on October 8 th, 2023, to operate the two yards in exchange for a percentage of the general revenue. A total of 80% of the revenues will be allocated to the Red Sea Ports Authority, while the remaining 20% will be directed to the two companies. The previous agreement included seven years for operating the general cargo and vehicle storage yard, with an area of 24,320 meters, and five years for the hazardous materials yard, with an area of 5,140 meters. Furthermore, the minimum for managing and operating the two yards has been reduced to 32.700 million instead of 85 million. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Egypt Today
5 days ago
- Egypt Today
306 pilgrims, 7 Hajj buses arrive at Nuweiba Port
Pilgrims while performing Hajj - AFP EL TOR, Egypt, June 14 (MENA): The Red Sea Ports Authority Saturday announced that Nuweiba Port in South Sinai has received 306 pilgrims and 7 Hajj buses coming from Jordan's Aqaba Port. The arrival procedures of pilgrims have been finalized swiftly and efficiently, in coordination with relevant port bodies, according to a statement issued by the Red Sea Ports Authority on Saturday. Medical teams and ambulances were deployed to the port and services were arranged to facilitate the movement of luggage and buses. Meanwhile, Mohamed Abdel Rahim, the chairman of the Red Sea Ports Authority, said that the authority is implementing a comprehensive plan to ensure a smooth and safe return for pilgrims. He affirmed commitment to providing full support and high-quality services to honor the spiritual journey of Hajj pilgrims returning from the Holy Land.
Zawya
08-04-2025
- Business
- Zawya
Egypt, France sign $7.6bln deal to build green hydrogen complex in Ras Shukheir
Arab Finance: Egypt and France signed a cooperation agreement to develop, finance, construct, and operate an integrated green hydrogen and ammonia production facility in Ras Shukheir, as per a statement. The agreement was signed between the Red Sea Ports Authority and the New and Renewable Energy Authority (NREA) in partnership with the Green Fuel Alliance, comprising France's EDF Renewables and the Egyptian-Emirati firm Zero Waste. As part of French President Emmanuel Macron's official visit to Cairo, the signing was witnessed by Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel El-Wazir, Minister of Electricity Mahmoud Esmat, and French Minister of Economy and Finance Eric Lombard. El-Wazir said the agreement supports Egypt's presidential directives to localize the green hydrogen industry, attract foreign direct investment, and position the country as a regional and global hub for energy and green fuels. He described the project as a reflection of the strong political and economic ties between Egypt and France and their mutual interest in long-term cooperation. The facility is set to produce 1 million tons of green ammonia annually in three phases, beginning in 2029, to supply clean ship fuel and for export to global markets. El-Wazir stressed that the project will not impose any financial burden on the state, nor will it require infrastructure support or electricity transmission from state-owned companies. The fully private sector-led initiative will be carried out by companies with the financial and technical capacity to sustain long-term investment, expected to extend over 50 years. The first phase of the project will involve a direct investment of €2 billion from EDF Renewables and Zero Waste to produce 300,000 tons of green ammonia annually. The total investment for all three phases will reach €7 billion, with full financing by the project company. The land allocated includes 368 square kilometers for wind and solar energy production and 1.2 million suqare meters for the plant itself. The project will also include a seawater desalination unit and a 7-kilometer electricity transmission corridor. The company will build and fund a 400-meter-long loading dock with a 17-meter draft at the Red Sea Ports Authority, along with supporting infrastructure. El-Wazir said the project will generate revenue for the state through land-use fees, licensing and renewal charges, export fees, service charges, and taxes, all paid in foreign currency. It will also create thousands of jobs during construction and operation. He noted that the agreement includes provisions for training Egyptian workers, with the aim of achieving a 95% local workforce participation. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Al-Ahram Weekly
08-04-2025
- Business
- Al-Ahram Weekly
Egypt, France ink €7 bln agreement for green hydrogen production
Egypt and France have signed a cooperation agreement to develop, finance, construct, and operate a comprehensive facility near Ras Shokair for the production of green hydrogen and its derivatives, including green ammonia. The agreement was made between the Red Sea Ports Authority and the New and Renewable Energy Authority. They partnered with the Green Fuel Alliance, which consists of the French company EDF Renewables and the Egyptian-Emirati company Zero Waste. The signing comes amid French President Emmanuel Macron's high-level visit to Egypt and within the framework of the two countries' significant strategic cooperation. The signing ceremony was attended by Minister of Industry and Transport Kamel El-Wazir, Minister of Electricity and Renewable Energy Mahmoud Esmat, and French Minister of Economy, Finance, and Industrial and Digital Sovereignty Eric Lombard. Major General Mohamed Abdel-Rahim, head of the Red Sea Ports Authority; Ihab Ismail, head of the New and Renewable Energy Authority; Amr El-Sawaf, chairman of Zero Waste; and Beatrice Buffon, president of EDF Renewables, signed the agreement. Minister El-Wazir said this contract implements presidential directives aimed at encouraging and enhancing efforts to localize the green hydrogen industry and its derivatives and provide a suitable investment climate. It also embodies the distinguished and strong relations between the political leaderships of both countries and their friendly peoples, reflecting their commitment to enhancing cooperation that achieves mutual interests and contributes to their development and prosperity. He added that the project aims to produce one million tons of green ammonia annually in three phases, starting in 2029, to support the state's goals of providing clean fuel for ship fueling and exporting to global markets. He pointed out that this cooperation enhances Egypt's position in renewable energy projects and supports its efforts to transition to a green economy. This project is distinguished from similar projects in Egypt because the state is not required to provide any infrastructure for its components, nor does it rely on the electricity companies' facilities to transmit the necessary energy for its operation. It also does not impose any financial obligations on the state. He stressed that the project is one of the rare initiatives being fully implemented by the private sector. It requires companies with high financial and technical capabilities, as it is a long-term investment that requires periods of up to fifty years to recover investment costs. Moreover, the minister affirmed that his ministry would coordinate with the relevant ministries, authorities, and entities to complete all legal procedures and necessary approvals with the project company to ensure the project's implementation according to the required standards. El-Wazir also explained that the project has a direct economic return, represented in the revenues that the state will earn from service fees provided by the project company. Add to this the required licensing fees for establishing and renewing the project and the fees for using lands designated for wind and solar power generation stations and areas for manufacturing green hydrogen and its derivatives, including green ammonia. The state will also benefit from the fees imposed on every ton exported and various taxes, all of which will be paid in dollars. He also highlighted the indirect return of the project, which includes providing vast job opportunities, starting with the labor required during the construction phase and then the operational labor during the operation and production phase. Additionally, the minister clarified that the alliance of EDF Renewables and Zero Waste will inject direct investments of 2 billion euros to finance the first phase of this integrated project, which will produce 300,000 tons of green ammonia annually. He said the total investment cost for the three phases will reach 7 billion euros, achieving a total production of one million tons annually, fully financed by the project company. According to the minister, the alliance has prepared a preliminary feasibility study to determine the basic requirements for the project. 368 km² have been allocated for the three phases of the project as areas for solar and wind energy generation in Ras Shokair, 1.2 million m² for the construction of the factory designated for the three phases, and a 7 km long and 100 m wide electricity transmission route. He added that the project company will also establish a seawater desalination unit to provide the necessary water for all project phases. Furthermore, the project company will finance and develop a 400 m long and 17 m deep loading dock for the Red Sea Ports Authority, installing all necessary facilities. El-Wazir affirmed that this project reflects Egypt's commitment to enhancing its position as a regional centre for clean energy and attracting investments in the green economy. This contributes to achieving sustainable development goals amid global competition to localize the green fuel industry and benefit from its multiple advantages. It is also part of global efforts towards clean energy transition, enabling Egypt to fulfill its international commitments under the Paris Climate Agreement and COP27 and to contribute effectively to reducing carbon emissions both locally and globally. He pointed out that the project company will be responsible for training and qualifying Egyptian labor, aiming to gradually reach 95 percent of the total direct labor in the project, contributing to building local specialized cadres in the clean energy sector. The project is a pivotal step in securing Egypt's future of clean energy and enhancing its position as a global center for green fuel trade. It will open new horizons for investment and international cooperation in this vital field. Follow us on: Facebook Instagram Whatsapp Short link:
See - Sada Elbalad
19-03-2025
- See - Sada Elbalad
Hurghada Port Closed Due to Severe Weather Conditions
H-Tayea The Red Sea Ports Authority has announced the closure of Hurghada Port in the Red Sea Governorate on Wednesday at 2:30 PM due to adverse weather conditions. The decision was made as strong northwesterly winds and high waves created unsafe navigation conditions. According to the authority's media center, wind speeds in the area ranged between 24 and 30 knots, while wave heights reached between 3 and 4 meters, making the sea extremely turbulent. As a precautionary measure, all maritime traffic and sea-related activities, including those involving both small and large vessels, have been suspended to ensure the safety of maritime operations. In response to the hazardous weather, Major General Engineer Mohamed Abdel Rahim, Chairman of the Red Sea Ports Authority, issued strict directives to port managers to implement all necessary precautionary measures. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe Videos & Features Bouchra Dahlab Crowned Miss Arab World 2025 .. Reem Ganzoury Wins Miss Arab Africa Title (VIDEO) News Ireland Replaces Former Israeli Embassy with Palestinian Museum News Israeli PM Diagnosed with Stage 3 Prostate Cancer Lifestyle Maguy Farah Reveals 2025 Expectations for Pisces News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple
