Kamel al-Wazir, Minister of Transport has issued an official statement, saying that no Egyptian ports have been sold. He acknowledged that a large congestion has occurred in the ports, which has resulted in additional costs and large financial burdens. He went on by saying that millions of tons of goods had been dumped in the ports for years and needed dry ports, an advanced railway and a road network.
Wazir said that a surplus of one billion dollars annually is expected in 2024 with the start of the ports through a new partnership. He pointed out that ports are targeted to generate US$3 billion, which is a modest figure.