The Egypt's Government has signed with the International Finance Corporation (IFC) to carry out financial consulting works to develop the Abu Tartour mining port PPP, 5km south of Safaga port in Red Sea.

As we reported in late November 2015, The European Investment Bank (EIB) launched two tender processes to hire consultants for the port.

The bank was seeking transaction advisors (TA) for technical support (TS) and legal assistance (LA) for the PPP project. The overall objective of the TA operation is to support, in collaboration with IFC, the Government of Egypt through the PPP Central Unit (PPPCU) of the Ministry of Finance (MOF) and the Ministry of Foreign Trade and Industry (MTI) in attracting private sector participation for the expansion of the Abu Tartour Port and development of industrial facilities via PPP.

• TS includes, among others: review existing project studies and analysis, develop design specification for the potential commercialization of the port, develop technical design specifications and support consultations with all stakeholders. The maximum budget available is €636,500. The initial period of execution of the contract shall be of 20 months, but this period may be extended.

• LA includes among others: undertake a legal, regulatory and taxation assessment of the project, review the legal and institutional climate and existing frameworks, design and recommend potential legal structures suitable for private sector participation and prepare the project tender documentation. The maximum budget available is €643,500. The initial period of execution of the contract shall be of 20 months, but this period may be extended.

In August this year, we reported that the International Finance Corporation (IFC), a member of the World Bank, which was already collaborating with the PPP Central Unit of the Ministry of Finance (PPPCU), in coordination with the Ministry of Foreign Trade and Industry (MTI), selected Maritime & Transport Business Solutions (MTBS) to execute the feasibility study for the project.