Egypt: Partnership with DP World to Contribute to Developing SokhnaSource: www.export-egypt.com 2/25/2018, Location: Africa |
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Vice Admiral Mohab Mamish, the Chairman of the Suez Canal Authority and Economic Zone, said that immediately after establishing a company to develop Ain Sokhna port, in partnership with Dubai Ports World (DP World), suitable projects for the area will be discussed with investors, given the large potentials and expertise of the DP World.
In statements ahead of meetings of the joint committee of Suez Canal Economic Zine and DP World, due to take place in Dubai to finalize procedures of establishing the company, Mamish said such partnership would help reach a breakthrough in the logistical services system and container ship handling at the zone which in turn will help accelerate the implementation of industrial ventures there. The initial partnership agreement to set up the major development company in Sokhna, was signed between the two partners on September 22 with the contract giving 51% of the project's shares to the Suez Canal Economic Zone and 49% to DP World. The project includes developing 95 square kilometers in Ain Skokhna area which includes a 75-square-km industrial zone and a 20-square-km residential area that can accommodate around 650,000 people. The partnership aims to develop 22 square km of Ain Sokhna Port and create 500,000 direct job opportunities in the Economic Zone. |
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