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Egypt still open for business, says Aramex
[ June 23, 2014 // Chris ]Logistics provider Aramex will restate its commitment to the Egyptian market with the opening of a new 14,000sq m warehouse in the 6th of October City industrial complex near Cairo, in August 2014. It will bring Aramex Egypt’s cumulative warehousing capacity to 106,000sq m with the option to expand to a total of 134,000sq m in the near future.
The logistics and warehousing facility is Aramex Egypt’s third biggest investment of its kind, in a programme that started with the opening of a 30,000sq m logistics facility in Cairo, which became fully operational in the first quarter of 2012. The second phase was a 15,000 square metre logistics and warehouse facility in the Borg el Arab area of Alexandria, operational since January 2013.
Aramex CEO, Hussein Hachem, said: “We are extremely pleased to express our commitment to support the future of the new Egypt. Our investments in the country which have already reached more than EGP 183 million during the past two years have been directed towards infrastructure and facility upgrade projects”.
He added that while the outlook for the Egyptian economy for the short to medium term remains unclear, it remains a key market for the region and lately there have been signs of increased consumer and investor confidence: “We hope our expansion plans are contributing to strengthening the Egyptian economy at this critical stage and helping promote economic developments leading to better opportunities for all Egyptians.”
CEO for Africa, Samer Gharaibeh said the expanded facilities would serve customers in the fast moving consumer products, telecommunications, fashion and industrial sectors. “With the continued growing demand for logistics and transportations services in Egypt, we have already started planning for additional investments in technology infrastructure upgrades, and developing our local human talent to meet the needs of our customers in Egypt and to support Aramex’s global expansion strategy.”
Aramex has been operating directly in Egypt since 1986 and has a total workforce of over 1,800 employees there, more than 10% of its global work force.