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Sarie Eldin & Partners to advise General Authority for Land and Dry Ports on establishment of Sixth October dry port First phase of port will be built on 100 acres with value of $100m
Sarie Eldin & Partners, in collaboration with Allen & Overy law firm, will be advising the General Authority for Land and Dry Ports, in its project to finance, design, construct, and operate the largest dry port in Sixth of October city, according to a press statement issued on Monday. The project will be a 24-hour dry port with design capacity of 720 20-foot equivalent units (TEU) per day, with an investment value of $100m, and construction will begin in the last quarter of 2018. "Our office is the local partner of Allen & Overy office which was appointed by the European Bank for Reconstruction and Development (EBRD) to provide advisory services to the General Authority for Land and Dry Ports," said Hani Sarie Eldin, managing partner of Sarie Eldin & Partners. The government has allocated a total area of 400 acres in Sixth of October city for the construction of a dry port with a logistics area. According to the plan, the area was divided into a first phase of 100 acres for the development of the dry port that includes a customs clearance unit for containers coming from Alexandria and Dekheila ports, and it is the area that Sarie Eldin & Partners is preparing the legal consultancy for. Furthermore, the second phase is located on an area of 300 acres and will be fully allocated to establish a logistics centre for storage and service containers after the completion of customs procedures. "We are currently preparing the legal consultancy for the project's first phase and we are currently finalising the tender documents, including the draft public-private partnership contract to be concluded between the General Authority for Lands and Dry Ports and the winning bidder," added Sarie Eldin.
