UAE’s DP World Starts Building $80 Mln Logistics Park in Egypt's Ain SokhnaSource: www.export-egypt.com 11/28/2023, Location: Africa |
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The UAE's major logistics firm, DP World, has commenced construction on a logistics park in Egypt's Red Sea industrial and tourist hub, Ain Sokhna, with an investment of $80 million, according to a Cabinet statement.
Named the DP World-Sokhna Logistic Park, this facility will sprawl across 300,000 square metres within the Suez Canal Economic Zone (SCZONE), and directly employ 600 people. The initial phase is set for completion by the end of 2024, focusing on bolstering logistics, trade, and distribution in Egypt and neighbouring markets. Situated within the Sokhna industrial zone, this project adds to over 240 ongoing ventures, creating more than 30,000 direct and indirect employment opportunities. These ventures encompass light, medium, and heavy manufacturing, alongside commercial and business endeavours. The expansive SCZONE covers 455 square kilometres. Renowned for its role as an international commercial, innovative, and industrial hub, the zone has attracted significant interest from foreign and domestic investors. DP World Sokhna, a subsidiary of DP World, manages the Sokhna Port in Egypt, serving as a pivotal maritime gateway into and out of the country. Its facilities include container, general cargo/Ro-Ro, bulk, and livestock terminals. With operations spanning over 73 countries across six continents, DP World manages ports, terminals, economic zones, and logistics centres, and is a major force in global shipping. |
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