2 February 2014       Download

Citadel Capital (CCAP.CA on the Egyptian Exchange) announced today that the National Company for Multimodal Transport (NMT) has begun to transport containers via river barges between the Port Said Container Terminal and the Suez Canal Container Terminal / SharqAl-Tafrea, including a naval service bay at the Suez Canal.

A successful trial carried out by NMT has proven that inland barges can transship containers between both port terminals in less than one hour compared to a minimum of 4-6 hours on average by truck convoys.

Extensive studies carried out in collaboration with the SCA and the Port Authorities concluded that the project will be beneficial on multiple fronts for all parties involved. In addition to eliminating the need to use ferries to cross the Suez Canal, the project will have a six-fold multiplier effect on fuel efficiency against land trucking. It will also ease road congestion and reduce carbon emissions to enhance the overall environmental footprint of the area.

The launch of NMT’s inland service will also help draw investment to the Suez Canal corridor region while simultaneously growing shipping and container activity at Port Said Terminal, thus generating revenue for the Port Authorities involved.

Furthermore, the transshipment service will create new employment opportunities for the residents of the Suez Canal region, in addition to reducing fuel consumption, easing road congestion and reducing accident rates.