Maha Capital, Egyptian Ministry of Transport sign MoU to expand transport capabilities

By Arya M Nair, Official Reporter
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Maha Capital
Mr. Abubakar Kondial & Eng. Kamel El Wazir signing the MoU

Maha Capital, an investment management company established and licensed in the Qatar Financial Centre (QFC), has signed a memorandum of understanding (MoU) with the Egyptian Ministry of Transport.

In the initial phase, the MoU includes cooperation in the field of developing West Port Said Container Terminal and upgrading its capabilities, expanding its activities and optimizing its competitive capabilities to cope with the state-of-the-art global systems in the field of managing and operating container terminals through hiring international operators and global navigation lines to increase the terminal’s share in containers market in the middle east region.

The MoU was signed by an executive consultant of Maha Capital Partners Mr. Abubakar Kondial and the Egyptian Minister of Transport Eng. Kamel El Wazir during the meeting of the Chief of Asia-Pacific and Africa Investments at Qatar Investment Authority (QIA).

The Egyptian Ministry of Transport stated that the discussions had focused on supporting the development of the economic and trade ties between the two friendly countries in the field of ports and specialized terminals, particularly the methods of Qatari side engagement in developing the current containers terminals in the Egyptian ports through pumping direct investments to develop and upgrade the capabilities of the superstructure, including operation equipment and apply the state-of-the-art technologies in management and operation.

Mr. El Wazir also pointed out the existence of multiple models of joint investment cooperation in this field, in addition to other opportunities for investment in the high-speed electric rail network, which is a mega project that represents a vital paradigm shift in transportation in Egypt.

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