Ankara seeks to use Egypt's gateway to Africa, while Cairo seeks to reach Europe's gateway through Turkey. The project aims to pump more than $7 billion in direct investments in all its stages, and provide more than 20,000 job opportunities.
The port of Jargoub, which is located 70 kilometers west of the city of Marsa Matrouh, is one of the new projects that Egypt is implementing in three phases at a total cost of $10 billion over 10 years. Despite the political rift between Ankara and Cairo, which lasted more than 10 years, trade relations took the opposite direction.