Suez Canal, Dubai DP sign agreement to establish marine terminal in Ain Sokhna

Chairman of the Suez Canal Authority (SCA) and the Suez Canal Economic Zone (SCZone) Mohab Mamish and the Chairman and CEO of Dubai Ports World Sultan Ahmed bin Sulayem initialed on Tuesday an agreement to launch the construction of the first phase of a marine terminal in Ain Sokhna as part of the DP World marine terminal network over an area of 30 square kilometers.

Mamish said that Egypt attaches great importance to use all its capabilities and capacities in order to ensure the success of the project for the benefit of future generations in the framework of integration and cooperation between the project and the Jebel Ali Free Zone.

He pointed out that he aims to include companies wishing to set up their projects in the “DP World Sokhna” Phase 1A within the next month.

He added that the targeted industries in the area include health, telecommunications, building materials, logistics services, textiles, cars, food, energy and petrochemicals.

Sultan Bin Sulayem said the group aims to accelerate the construction of the project in partnership with the Suez Canal Authority (SCA) and SCZone. “We hope that Sokhna area becomes a global region, contributing to the growth of the Egyptian national economy,” he said.

Mamish and Sulayem signed a partnership agreement last year to establish a major development company for the development of Ain Sokhna. This company is set to develop the DP World Sokhna.

The Suez Canal Authority stands for 51 percent of the project while Dubai Ports Group stands for 39 percent. The contract stipulates that 90 percent of the workforce should be Egyptian.

DP Worlds’s international network currently encompasses 60 terminals across 31 countries.

Edited translation from Al-Masry Al-Youm

Related Articles

Back to top button