Turkiye to set up industrial zone in NW Egypt

CAIRO, March 22 (KUNA) -- Egypt and Turkiye have hammered out a memo of understanding (MoU) for establishing a Turkish logistic industrial area in Jarjoub Economic Zone in Egypt's northwestern Matrouh Governorate, said the Egyptian Ministry of Transport on Friday.
The Turkish project is meant to create more than 20,000 job opportunities and to inject over seven billion US dollars in phased-out "direct investments", the ministry said in a press statement.
It will embrace a multipurpose container station and logistic area once both sides sign a contract by the end of this year, it said, expecting it to start operating in early 2026.
The MoU is part of the Egyptian government's plan to utilize the "strategic" Jarjoub Seaport to implement several projects, according to the statement. (end) aff.mt