Egypt, South Korea partner to develop Jarjoub economic zone
Updated 11/28/2023 10:25:00 AM
Arab Finance: The Egyptian Ministry of Transport signed a memorandum of understanding (MoU) with the South Korean STX Corporation to develop the Jarjoub economic zone, as per a statement by the Egyptian Ministry on November 28th.
Under the MoU, a factory will be established to reassemble used cars imported from Korea and Japan and re-export them to African countries.
The MoU will also see the establishment of an oil pipeline connecting Libya to the port of Jarjoub and a container terminal in the commercial port of Jargoub to serve goods coming from East Asia and heading to both North and South America.
These in addition to the establishment of a logistical base to provide shipping lines for the benefit of Egypt and building a residential city as a future expansion of the Jarjoub region.
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