Egypt is planning to set up an integrated logistics zone for storing and handling petroleum products at the Northern port of Alexandria. This information on the Alexandria Petroleum Products Storage Facility was reported by a Saudi news website on Monday.
Additionally, over $600 million will initially be invested in the project. Asharqbusiness stated, citing an unnamed Egyptian government official.
Size
Additionally, the zone will span an area of around 300,000 square metres. This will include a 900-metre-long berth which is part of phase one of the Alexandria Port development.
“This project aligns with the government’s strategy to transform the country into a regional energy hub. Also, it will leverage Egypt’s strategic geographic location and integrated logistics and maritime infrastructure,” the official told the website. Also, the facility alongside MIDOR Refinery will cement Egypt’s position as a leading energy hub in North Africa.
Current Status of the Project
Currently, the ministries of oil and transport are working together to finalise the project contracts. These contracts will include agreeing on the financing structure and determining the land use rights for its Alexandria Port authority owner.
Additionally, according to the report, the storage capacity at Egypt’s main ports is approximately 29 million barrels. The country has 19 commercial ports, 14 of which are currently being developed, it said.
Other Similar Facilities in the Country
Also, Egypt has approximately 79 petroleum storage facilities that were constructed or upgraded between 2014 and 2023 to bolster strategic reserves at a cost of EGP 2.4 billion ($50 million).
Furthermore, in March, Egypt was reported to have offered 10 crude oil and petroleum product storage facilities for lease at the Ain Sokhna and Ras Badran ports on the Red Sea.
Furthermore, the report said Cairo was reviewing an offer from AD Ports Group to lease storage facilities for crude oil and petroleum products on the Red Sea coast. It said negotiations were underway and likely to be agreed before July.
Project Factsheet
Cost: over $600 million
Size: spanning 300,000 sqm
Current status: contracts being finalized
Location: Northern Port of Alexandria
Significance: contribute to transforming the country into a regional energy hub.
