TM announces foundation of Alexandria Company for logistics providing maritime transport activities services

Dr. Hesham Arafat, transport minister headed constituent assembly for the foundation of Alexandria Company for logistics and consultancy to provide services for maritime transport activities: as stock Egyptian company that is subjected to regulations of law 159 for the year 1981 in cooperation with other economic units that work in the same field owned by the state and affiliated to Transport ministry.  Transport ministry said in Press release that the new company targets providing all kind of services for maritime transport and logistics  to glorify and verify income sources of  Alex port general authority  especially of foreign currency  and making use of available sources  to provide with all logistic services  in accordance with recent applicable system in maritime transport.  

  The minister has assured that the aim of founding this company is to achieve a real added value for the participation of economic units and providing direct and real working opportunities for youth.  Also fulfilling highest possible revenues for the state’s general budget; through benefitting from the privilege that the stock companies enjoy; following modern economic management techniques, in addition to constituting an administration that does not differ from private investment projects  with a variety of distinguished  qualifications also the capability of renewing and exploiting  capabilities of the authority that are not yet exploited, increasing productivity and providing financing secure sources in the future  without state’s budget accreditation  and recycling part of the authority’s financial investments surplus  in implementing new projects and achieving a surplus of currency as a source of national income.   

 Arafat has also added that main companies’ activities services are concentrated on maintenance services of roads, buildings, vessels and floats of all types , navigational agencies, stevedoring, storage, warehouses, maritime work, maritime imports, vessels’ bunkering, internal transport works at ports, towage works, maintenance and fumigation  works of containers and Customs clearance services and salvage and diving services. Again, exporting and importing services of ports’ operation requirements, contractors’ works related to ports and technical consultations of all types in the field of maritime transport. Moreover, communications and information technology at ports that includes information technology and communications industry and designing and producing programs.  

  Worth noting that participants are Alex port authority with a percentage of 90%, Red Sea port authority with a percentage of 5% and Damietta port authority with  5% and licensed capital reaches 100 million Egyptian pounds.