In a bid to redevelop the historic port city of Alexandria of Egypt, South Korea is to conduct a feasibility study, which will focus on the viability of technical developments at the port, according to South Korean news agency, Yonhap.
Research will also be carried to establish a funding plan for the port that handles more than 60% of cargo in Egypt.
The South Korean ministry said: “The Alexandria project is one of the biggest government-led policies of the Egyptian government.
“South Korea's participation in the project is expected to strengthen bilateral cooperation between the two countries and help South Korean companies advance into the North African country.”
As well as South Korea, Germany’s Hamburg Port Authority has also expressed an interest for cooperation with Egypt’s ports.
The move would involve making the ports competitive by managing and improving service levels.
Global port and terminal operator DP World has also recently expressed an interest in Egypt after recently signing a Memorandum of Understanding with Egypt’s Suez Canal Authority (SCA) and the Red Sea Ports Authority for the development of the country’s Ain Sokhna seaport.