Kharafi in Talks to Build Ports Along River Nile, Al Mal Reports

Kuwait’s Kharafi Group is in talks with New Marine Group of Egypt to establish a company to build ports in the Nile delta and further upstream, Al Mal reported today, citing people it didn’t identify.

New Marine would own 51 percent of the new company and Kharafi the rest, the Egyptian newspaper said. Ports would be built in Alexandria and Damietta on the Mediterranean coast, followed by Aswan and other inland areas, it reported.

To contact the reporters on this story: Dahlia Kholaif in Kuwait at dkholaif@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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