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Turkish contracting firm Dogus Construction has signed a memorandum of understanding (MoU) with Egypt to develop an industrial and logistics zone in Gargoub Port, Egypt.

The agreement was signed between Dogus, Inventure Group and the Egyptian Group for Multipurpose Terminals (EGMPT), the commercial wing of Egypt's Ministry of Transport in the maritime transport and logistics sector.

Dogus will develop the project as an engineering, procurement and construction (EPC) contractor, and support EGMPT and Inventure Group in securing financing.

The estimated $7bn project includes the construction of an industrial and logistics hub with multi-purpose terminals, a touristic port with hotels, restaurants, stores, a yacht marina and passenger and cruise terminals.

The signing ceremony was attended by Abdul Qader Darwish from EGMPT, Karim Nakhle from Inventure Group and the CEO of Dogus Construction, Tolga Akkas.

In early March, Dogus signed an MoU with Saudi Arabia's local telecommunication firm Advanced Communications & Electronics Systems Company (Aces) to develop data centre projects in Saudi Arabia.

Dogus Construction is headquartered in Istanbul, Turkiye. The contractor has been involved in some significant projects, including the Yerkoy to Kayseri high-speed rail, the Qatar Rayyan infrastructure project, the Artvin Dam, the Cekmekoy to Yenidogan Metro, and the Istanbul Metro scheme.

MEED’s latest special report on Egypt includes:

> Cairo secures a cumulative $54bn in financing
> Egypt faces political and economic trials
> Cairo beset by regional geopolitical storm
> More pain for more gain for Egypt
> Egypt oil and gas project activity declines
> Familiar realities threaten Egypt’s energy hub ambitions
> Egypt’s desalination projects inch forward
> Infrastructure carries Egypt construction