Egypt and the Emirate of Fujairah signed an settlement on Thursday to determine an Egyptian shareholding firm answerable for growing a logistics zone within the Mediterranean basin at El-Alamein. The undertaking goals to retailer and commerce petroleum merchandise within the Mediterranean, and entails upgrading and increasing El-Hamra Port in cooperation with the Fujairah Oil and Gasoline Company.
The settlement was signed throughout Minister of Petroleum and Mineral Sources Karim Badawi’s go to to the UAE, the place he met with Hamad Bin Mohammed Al Sharqi, Ruler of Fujairah and Supreme Council Member, to debate alternatives for cooperation and increasing investments within the power sector.
A second settlement was signed for storing crude oil at El-Hamra Port’s services. The deal is anticipated to maximise financial returns from Egypt’s infrastructure and leverage the port’s superior services and placement, stated Badawi.
At the moment, the port, situated about 120 km west of Alexandria, is seeing the development of 4 new crude oil tanks within the northern space. They purpose to spice up the manufacturing capability from 2.8 to five.3 million barrels. As well as, a completely built-in zone is being established within the southern space for the storage, dealing with, and loading of petroleum merchandise, with a complete capability of 130,000 tons. It is going to be applied in two phases. The primary will probably be accomplished by the top of this yeara nd consists of two diesel storage tanks. The second will probably be accomplished within the second quarter of subsequent yr and consists of six tanks for gasoline, diesel, and jet gas.
Either side have additionally signed a industrial settlement to produce petroleum merchandise to the Egyptian Normal Petroleum Company (EGPC).
In the course of the assembly, Al Sharqi emphasised the deep-rooted political and financial ties between the 2 nations and highlighted the most important initiatives underway throughout numerous sectors, significantly actual property, tourism, oil, fuel, and pure sources in Egypt.
In July 2025, MoPMR signed a memorandum of understanding with Abu Dhabi Ports Group and TCM Challenge Supervisor LLC to discover joint operation and growth of crude oil storage services. The ministry additionally signed different MoUs, together with one with China’s United Vitality Group (UEG) to draw oil, fuel, and renewable investments, and two MoUs with UAE-based Worldwide Sources Holding (IRH) in mining and petroleum financing.
