Egypt launches first river port

Egypt launched its first river port on Monday, which entailed investments worth LE300 million, reported the state-run Middle East News Agency (MENA).

Said to be the biggest in the region, the river port comprises a floating dock and 17 silos for storing grain, MENA reported.

River transport can save at least 70 percent of the diesel consumption used in land transport. Diesel is heavily subsidized in the state’s already tight budget, creating a wide deficit. The port is also expected to relieve traffic congestion by taking at least 240 trucks that transport these goods to the different governorates off the already hazardous roads.

Egypt imports around 15 million tons of grains annually, a number that is expected to gradually rise over the next five years by an average of 3 percent.

Investing in river transport can cost the state less in energy subsidies, ease traffic on main roads and potentially move a larger amount of goods throughout the country.

The River Transport Authority aims to develop this field so that 10 percent of goods are transported via the river.

Toni Freiji, CEO of agribusiness firm Wadi Group, said the port has the capacity to unload 600 tons of grains in an hour and will therefore minimize congestion at the Alexandria port, MENA reported.

The project will provide storage facilities that can contain up to 130,000 tons of grain annually as well as the equipment needed to unload and store shipments of all kinds, he added.

Phase two of the project, which will begin next year and cost LE100 million, will see the expansion of the port’s capacity to unload double the amount of grains, up to 1,200 tons per hour, and storage capacity to 230,000 tons.

The company aims to develop its projects to enable river transport down to Aswan.