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Egypt, UAE Sign $3B MoU for Petroleum Logistics Projects

Egypt aims to mirror the integrated system operated in Fujairah, deploying it at Egypt’s Hamra Petroleum Port on the Mediterranean coast.
12.08.24 | Source: Egyptian Streets

Egypt’s Cabinet signed a Memorandum of Understanding (MoU) with the United Arab Emirates relating to logistics projects in the petroleum sector, with investments potentially reaching USD 3 billion (EGP 147.5 billion), a Cabinet press release announced on 8 August.


The signing ceremony, witnessed by Egypt’s Prime Minister Mostafa Madbouly, featured key figures from Egypt’s Ministry of Petroleum and Mineral Resources, and Emirati-owned Fujairah Oil Industry Zone.


Egypt aims to mirror the integrated system operated in Fujairah, deploying it at Egypt’s Hamra Petroleum Port on the Mediterranean coast.


“The MoU aligns with the Ministry of Petroleum and Mineral Resources’ strategy to enhance Egypt’s role as a regional hub for the trade of crude oil and petroleum products,” the Cabinet statement read.

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