Hassan Allam Utilities, the investment and development arm of leading Egyptian group Hassan Allam Holding, said it has joined hands with Agility, the industrial development specialist, to set up a new venture, Yanmu, that will focus on the development, build and operation of modern logistics parks and Grade A warehousing facilities in the country.
Their first park, Yanmu East Logistics Park, is coming up on a 270,000-sq-m site on the new Cairo Suez road, 15 km from Cairo Airport.
The new facility, which is located in close proximity to the Ring Road, will open in August, while the second park, Yanmu West Logistics Park, is set for launch next year.
Hassan Allam Utilities said these Yanmu parks are designed to meet the storage and distribution needs of companies in e-commerce, manufacturing, consumer products, food and beverage, technology, automotive, energy, industrial goods, healthcare, pharmaceuticals and other sectors.
Yanmu East Logistics Park offers Grade A warehousing at a unique, strategic location and provides tenants with 24/7 security, power, connectivity, and facility management, it stated.
Hassan Allam Utilities Chairman Amr Allam said: "Yanmu will offer Egypt's most modern, efficient and sustainable warehousing. We are proud to have strategically partnered with Agility, which has nearly four decades of experience in developing and operating Grade A warehousing across the Middle East, Africa, and Asia."
"In addition, the facility provides advanced warehouse engineering features, such as 14-meter ceilings, super-flat floors, efficient docking systems, and docking," he noted.
Yanmu is a green park incorporating sustainable design, including solar rooftops and other features that reduce power and water use and increase operational efficiency, he added.
Agility Vice Chairman Tarek Sultan said: "When it comes to warehousing capacity and distribution capability, Egypt is underserved. Yanmu will fill the gap with modern, efficient infrastructure that is going to power growth domestically and strengthen Egypt's role as a vital trade partner and crossroads."
"Hassam Allam Utilities' reputation for excellence and intimate knowledge of the market gives Yanmu a huge advantage," observed Sultan.
Both Agility and Hassan Allam Utilities recently announced significant new investments and expansion plans in Egypt, he added.
In October, Agility had announced that it is investing roughly $60 million to develop and operate two customs and logistics centres in the Suez Canal Economic Zone.
The project is intended to modernize operations and improve the flow of goods and commodities in the Ein Sokhna industrial zone and at East Port Said.
In September, Hassan Allam Utilities had signed two concession agreements to develop and operate strategic warehouses for the Internal Trade & Development Authority (ITDA) in the governorates of Luxor and Sharqiyah under a Boot (Build, own, operate and transfer) scheme.
The project is part of Hassan Allam Utilities' investments in the logistics sector to establish an integrated logistics platform covering the entire value chain for storage and handling services in Egypt, and to further develop the industry and leverage a fast-growing market opportunity, it added.-TradeArabia News Service