Aramex continues investment plans in Egypt
Express and logistics giant Aramex has committed to its presence in Egypt with investment in a new logistics centre. A month after the elections that followed last year’s ousting of President Mohammed Morsi, the Jordan-based, Dubai-listed company said it sees the North African country as a “key market” for the region.
The company has invested EGP 183m in the country during the past two years.
After opening a 30,000 square metre logistics facility in Cairo in 2012, a 15,000 sq m facility in Borg ed Arab, Alexandria, last year, the new facility should be opened in August 2014 in the 6th of October City.
The latest expansion will be Aramex’s third biggest investment of its kind, bringing the company’s total warehousing capacity in Egypt to 106,000 sq m. The firm has options to expand its sites to a total capacity of 134,000 sq m.
Hussein Hachem, the Aramex chief executive, said his company’s investments expressed commitment to the future of the new Egypt.
“While the outlook for the Egyptian economy for the short to medium term remains unclear, Egypt remains a key market for this region and we have been witnessing increased consumer and investor confidence,” he said.
“We hope our expansion plans are contributing to strengthening the Egyptian economy at this critical stage and helping promote economic developments leading to better opportunities for all Egyptians.”
Aramex, which has been operating in Egypt since 1986 and has 1,800 people employed there, said the latest investments would help it serve consumer goods manufacturers, and telecoms firms along with the fashion and industrial sectors.
The firm is already planning additional investments in the country, in technology infrastructure upgrades as well as developing local staff.