Transport minister witnesses signing of agreement between French CMA CGM Group, ODP
Deputy Prime Minister for Industrial Development Minister of Industry and Transport Kamel el-Wazir has witnessed the signing of a strategic partnership agreement between CMA CGM Group, a French global leader in shipping and logistics, and October Dry Port (ODP).
The deal was inked by Ahmed Elsewedy, CEO and President of Elsewedy Electric and Christine Cabau, CMA CGM Group Executive Vice President in charge of Assets and Operations, in the presence of Sayed Metwally, Head of the Authority for Land and Dry Ports.
In a statement released on Friday, the Transport Ministry said the agreement aims to enhance the operational efficiency of the port, boost the movement of goods and offer integrated logistics services to customers in growing industrial zones in Egypt.
During the signing ceremony, the transport minister said Egypt is open to cooperation with all global shipping companies, including CMA CGM Group, which already manages and operates the Tahya Misr multi-purpose terminal at Alexandria Port that was inaugurated by President Abdel Fattah El-Sisi in June 2023.
Wazir stated the transport sector in Egypt has been witnessing significant development in the era of President Sisi, affirming the partnership between CMA CGM Group and ODP comes in light of presidential directives to increase the participation of the private sector in the economic activity.
It also aligns with presidential instructions to transform Egypt into a regional hub for transportation, logistics, and transit trade, the minister said.
Wazir noted the agreement will contribute to facilitating the export and import of goods, preventing the congestion of seaports with containers, through fast and effective customs procedures.
It will also reduce pressure on roads, cut carbon emissions and save on the fuel consumed in land transport, the minister added.
On her part, Cabau said this partnership provides an ideal opportunity for developing low-emission transport solutions in Egypt, through efficient rail connectivity, noting this investment demonstrates the French company’s long-term commitment to supporting the growth of supply chains in the country.
For his part, Elsewedy said the agreement reinforces Egypt’s position as a regional logistics hub and supports national goals for advancing industrial growth and achieving sustainable development.
Under the agreement, CMA CGM Group will acquire a 35% stake in the ODP and benefit from the port’s state-of-the-art facilities to serve its wide customer base in the Greater Cairo and Upper Egypt, by providing integrated inland transport solutions, customs clearance, and advanced logistics services.
MENA
