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بوابة أخبار اليوم
Fujairah Al Sheikhdoms expand as energy hub
Egypt and the United Arab Emirates have announced the establishment of the "Fujairah Al-Alamin Oil and Gas Company" at the Red Sea Port in the New Alamein City, with the aim of developing crude oil and petroleum product storage and trading activities. The project seeks to strengthen Egypt's position as a regional energy hub by leveraging the strategic location of the port, benefiting from UAE expertise in energy trading, and making a significant leap forward in economic and investment cooperation between the two countries. The goal is to enhance storage capacity and transform the Red Sea Port into an integrated logistics center, thereby supporting the national economy and boosting Egypt's standing in the global energy market. It is expected to generate thousands of jobs and increase revenues from storage and trading activities.
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