UAE’s DP World, Egypt discuss Sokhna port expansion
UAE-based ports operator, DP World, and Egypt’s General Authority for Investment and Free Zones have discussed a proposal to increase the capacity of Sokhna port in Egypt.
The port, operated by DP World, sits south of the Suez Canal on the Red Sea on a maritime trade route from Asia to the Middle East and beyond, to Europe.
Sultan bin Sulayem, chairman of DP World, held a meeting in Dubai with Mohamed Khodeir, CEO of General Authority for Investment. He cited Egypt’s strategic location and other assets as drivers of investment and international trade in the coming period, said a Wam news agency report.
Khodeir mentioned that the Egyptian parliament will soon finalise an amended legislation on investments as part of the government’s efforts to attract more foreign direct investments and sustain new projects.
DP World Sokhna is part of the operator’s portfolio of 77 operating marine and inland terminals supported by over 50 related businesses in 40 countries across six continents.
Most of the cargo from the east destined for Egypt is imported via Sokhna, the closest port to the Egyptian capital, Cairo, which attracts vessels coming from Europe with cargo for Egypt.