Cairo Freight for logistics services and customs clearance plans to pump investments worth 5 million pounds during the current year to purchase lands in Safaga and establish warehouses within the Golden Triangle area projects, in order to provide international shipping services to the winning companies of the right to explore for gold in the Eastern Desert.
Eleven global and local companies won a global bid to explore for gold and associated minerals, copper and silver, last November, while the Ministry of Petroleum and Mineral Resources plans to offer several other areas for exploration during next March.
Eng. Amjad Hassanein, the company’s president, said that he aims to benefit from the presence of international companies that have applied for exploration and to sign contracts with Cairo Freight to transport, ship and unload the project’s tasks and equipment.
The company works with mining companies in Egypt in the field of transportation, including the Sukkari Mine Company, explaining that the investments are strongly directed to Safaga and the Golden Triangle.
He pointed out that the Golden Triangle project will place Egypt on the global mining map, as it contains investment areas of a nature, especially for various activities and attracting local and international investments that will drive development in Upper Egypt.
Hassanein added to “the stock exchange” that last year Cairo Freight witnessed a 50% decline in the volume of its business due to the emergence of the Corona virus, which contributed to the reduction of the volume of business and the decrease in investor requests, whether for transportation, shipping or customs clearance.
He expected that the spread of the new vaccine would significantly stabilize the market and gradually return to activity again during the current year 2021, injecting investments and attracting new investors.
He pointed out that the company leases equipment for transport, loading and unloading from other companies at an annual cost of 10 million pounds, indicating that the company has its own fleet of equipment.
He said that the company works in all Egyptian ports in the services of transport, clearance, shipping and unloading, as those ports include Badr City, Rubiki, Free Zone, Alexandria, Suez, Ismailia, Port Said and Sokhna.
Hassanein added that the expansion of the development of land and dry ports will contribute to increasing the gross domestic product, which will result in an increase in exports abroad, especially with the state’s tendency to open up to African markets and cooperate with many European countries in strengthening partnership and economic cooperation as a result of expediting the completion of release procedures Container customs.
The article “Cairo Freight” planning to set up a logistical area for mining companies in the Golden Triangle was written in the Al Borsa newspaper.