National Holding Company for transportation launches investment activity again
National Holding Company for transportation, a subsidiary of Riad Logistic river transport and port management sector companies, start practicing a new investment activity includes the container transport between Port Said and Port East Port Said through the Canal navigational services subsidiary of the Suez Canal through the use of company-owned hydro units
National Holding Company began to transport, which is a subsidiary of Citadel investment companies (listed on the Egyptian Exchange under CCAP.CA) Code, practicing a new investment activity for the transfer of containers between the port of Port Said and Port East Port Said through the Canal navigational services subsidiary of the Suez Canal through the use of water barges owned by the company.
The new project is the result of close cooperation between the firm – a leader in Africa and the Middle East investment company – and the Suez Canal Authority and all relevant sectors, the Ministry of Transport to take advantage of river transport projects in facilitating the movement of shipping containers.
National Holding Company has conducted a successful transport tests run using two water barges owned by it in the container transport between Port Said and Port Said East Port during the period of time not to exceed one hour, compared to a period ranging between 4 to 6 hours using road transport.
In this context, Maj. Gen. Majed Faraj, head of the Board of the National Holding Company for transportation, that the success of the project credited back to the concerted efforts and fruitful cooperation between the various actors in the forefront of the Suez Canal Authority and the Egyptian Authority for Maritime Safety and the Suez Canal Container Terminal and Container Terminal Port Said. He Faraj expressed gratitude for the efforts of Vice Admiral Mohab Mamish head of the Suez Canal Authority and its role in overcoming the obstacles faced by the project, and the experiences of operation, in addition to strengthening project studies and coordination between all departments involved Suez Canal Authority and the General Authority for Port Said National Holding Company for transportation.
Comprehensive studies conducted by the National Holding Company for transportation in cooperation with the Suez Canal Authority and the General Authority for Port Said Port has revealed, high economic feasibility study for the water transport of containers between the ports of Port Said East Port Said and achieve many advantages to all parties to the water transport system, which will contribute to energy saving support consumption at a rate of 1 to 6 compared to road transport and ease the pressure on the road network and thus reduce its allocated maintenance costs, reduce emissions and improve environmental performance, as well as ferries to avoid the Suez Canal consumption and reduce maintenance expenses associated with them.
For his part, Karim Sadiq, managing director of Citadel, said that the rise in the economic viability of the project emphasizes the company’s ability to achieve sustained economic return in the face of current support for fuel trucks, which gives the system a competitive advantage despite being less fuel-efficient. Honest and pointed out that the use of water barges will achieve higher efficiency levels for customers because the ships were forced sometimes to re-container guide to some of the other overlooking the Mediterranean countries before it reaches the core part, marine ports in Egypt, and that the success of the practical experience of shipping containers between ports and Port Said East Port will contribute to the start of operations in two weeks only.
On his part, said Ahmed Cherkaoui Managing Director of the castle, that the advantages of using a water container shipping barges ranging reduce fuel consumption and reduce road congestion and reduce accidents, as well as improved environmental performance as a means of transport is environmentally friendly. The project will create new job opportunities for graduates and residents of the Suez Canal zone.
The project is a positive step towards attracting more investments to the economic territory of the Suez Canal and bring container ships to the East Port Said Port, which will be reflected in the revitalization of the movement of freight and container handling at the port and to achieve additional revenues for those services.
Citadel Capital owns 37.9% stake in the national holding company for transportation, one of the Nile Logistics companies.
River transport sector represents one of the five strategic sectors including investments in the firm as well as energy and food, mining and cement sectors.