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Egypt to buy Taba Heights Marina, Orascom to remain operator
- Egypt: Thursday, October 04 - 2012 at 09:00
Orascom Development Holding (ODH) is set to sell its Taba Heights Marina in South Sinai to the Egyptian government to be used for touristic and commercial purposes under private sector management, Ahram has reported, citing sources involved in the negotiations. If the deal is successfully concluded, the marina will come under the control of Egypt's maritime authorities, allowing a greater range of shipping activities, such as a regular passenger boat link with neighbouring Jordan. "This marina will fall under the control of Red Sea Ports Authorities," Sayed Hediya, the head of Egypt's Maritime Transport Sector, told the daily, confirming that this would allow an expansion of operations, potentially including passenger ships. According to transport law, only ports which are under the direct authority of the maritime transport department can be legally used for commercial purposes.
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