Lieutenant general/ Kamel El Wazir, deputy prime minister for industrial development and industry and transport ministry has witnessed signing of a memorandum of Understanding between Maritime Transport holding company and ELSEWEDY Electric Company for the support and development of commercial and investment relationship between the two sides; this through the establishment, management, operating and developing a comprehensive industrial region at Damietta port on an area of 6 million square meter on two phases.
The MOU was signed by Dr. Amr Mustafa, from Maritime Transport holding company side and Eng. Mohamed Elkamah CEO of ELSEWEDY infra-structure investments sector and the signing ceremony was attended by admiral/ Tarek Adly, head of Damietta port authority, Eng. Mohamed Fathi, minister’s assistant for land and maritime transport, Eng. Ahmed Elsewedy CEO of ELSEWEDY Co. and Eng. Amr Elsawaaf, general manager of Egypt Co. for Cables
Lieutenant General/ Kamel El Wazir, has announced that this MOU signing includes the foundation of a company for the purpose of establishing, managing, operating and developing a comprehensive logistic industrial region at Damietta port with industrial developer system in New Damietta, west Damietta City, where ELSEWEDY Co. will take over the responsibility of planning the Industrial city, establishing networks and facilities and developing the industrial and infra-structure to attract investors from different industries required for the region such as engineering and food industries, cars and Petrochemicals. Adding that the first investment at the industrial city at west Damietta concentrated on establishing a maritime cables factory for the benefit of ElSEWEDY company with investments reaching 500 million dollars and on an area of 500.000 square meter: to be the sixth plant in the world and the Middle East in this field. The plant is also considered a strategic addition in the field of transport, energy and infra-structure as it participates in extending maritime cables in between the continents. Hence enhancing Egypt location being a regional center for advanced industries.