DP World Sokhna celebrates its 10th anniversary by announcing that its expansion project, that will bring to Egypt $1.6 billion, is near completion and will begin operations during the second quarter of 2020.
The port expansion will boost the port’s capacity to 1.75 million TEUs per year.
The port expansion is ideal for the port’s position, as it serves as a major gateway for Egypt’s trade, while it is Egypt’s only port that is capable of handling the largest container ships in the world.
The project costed $250 million and included two operational basins, the expansion into Basin 2 includes a 1.3-kilometre-long quay with 400 meters in use in Phase 1, and a 350,000 square meter container yard.
The project is taking place at a time when the UAE and Egypt agreed to support a $20 billion-joint strategic platform to invest in a range of vital sectors and assets. Now, Basin 1 is already operating with a capacity of 945,000 TEUs; Basin 3 is a liquid bulk station spanning 400 square meters which is a major gateway for Egypt’s energy imports.
Suhail Al Banna, CEO and Managing Director of DP World Middle East and Africa commented
We are confident that our expansion into Basin 2 will significantly facilitate greater volume capacity at the port, which in turn, supports our commitment to bolstering Egypt’s economic growth by attracting greater investment and strengthening the foundations for a lucrative trade eco-system.
