The European Bank for Reconstruction and Development (EBRD), a multilateral developmental investment bank, has recently announced the approval of a loan of US$ 29.6M for October Dry Port Company (ODP), a joint-stock company created to build the 6th of October Dry Port in the city of October 6, which will be the very first inland dry port in Egypt.
According to the EBRD, the loan is a part of a total investment program of US$ 60M mobilized to finance the design, development, construction, and operation, as well as maintenance of the said platform.
An overview of the facility
The 6th of October Dry Port will be built on 100 feddans (which is approximately 420,000 square meters) within a span of 24 months. Upon completion, it will include container yards, communication and control systems, a solar energy system for electricity generation, lifting and transport equipment, tractors, railways, and UV inspection systems.
The facility also aims to offer other amenities such as an integrated customs department headquarters, along with administrative offices for the parties involved in the port project such as the General Authority for Land and Dry Ports, the October Dry Port Company (ODP), shipping line agents, and shipping, clearing, and transportation companies.
Expectations for the facility
With the capacity to handle approximately 720,000 containers per year when commissioned, the 6th of October Dry Port is expected to limit the accumulation of cargo and containers at the major ports of Alexandria and El Dekheila and consequently help reduce the cost of handling on the said seaports.
It is also expected to participate in the transfer of part of the container traffic from the road to the railroad, thus realizing many social, environmental, and economic benefits such as the reduction of road congestion and accidents, greenhouse gas emissions, among others.