Deputy Chairperson of Alexandria Port, Mohamed Al Daqaq, stated that the Egyptian General Petroleum Corporation (EGPC) will fund EGP 90m for the development of “Gounat El Petrol”  docking area within Alexandria Port, reported Al Borsa.

Al Daqaq added that the project is in the launching phase under the supervision of the Alexandria Port Authority. The Port Authority in cooperation with EGPC is currently contracting with companies to process the development project.

The first phase of the project includes the development of two docks in the petrol department and increasing their depths from 12m to 15m in boost the receiving capacity to 60,000t cargos from 30.000. This phase will take around six months to complete, after which the second phase will start with estimated cost at EGP 50m funded by EGPC. The project then will have the third and final phase that is not planned yet until the funding is secured.

Gounat El Petrol consists of 5 docks. Two docks are assigned for gas, oil and bitumen unloading as they have direct lines to move crude oils to tanks outside the port.  Gounat El Petrol is generally assigned to receive gas, petroleum derivatives, bitumen and food oils. Any disorganization in unloading cargos caused overstocking and delay in receiving goods which results into huge fines covered by EGPC.