DP World Sokhna expansion nears completion; celebrates 10th anniversary
November 20, 2019: DP World today announced the near completion of the expansion of Sokhna terminal at the port of Sokhna in Egypt which will bring their total investment in the country to $1.6 billion.
November 20, 2019: DP World today announced the near completion of the expansion of Sokhna terminal at the port of Sokhna in Egypt which will bring their total investment in the country to $1.6 billion.
“Basin 2 will be operational by the second quarter of 2020 and nearly double capacity at the port to 1.75 million TEUs per year. The expansion cements DP World Sokhna’s position as a major gateway for Egypt’s trade and the only port in the country capable of handling the largest container ships in the world,” says the release.
The announcement came during the celebration of its 10th anniversary in Sokhna.
DP World Sokhna
DP World Sokhna sits just south of the Suez Canal on the Red Sea coast. It is an important port for the Suez Canal Economic Zone, earmarked by the Government as a key growth region to attract investment. The port is on one of the world’s busiest maritime trade routes from Asia to the Middle East, and beyond to Europe. It is also the closest port to Cairo, linked by a six-lane 120-kilometre highway to its 18 million consumers.
Suhail Al Banna, CEO and MD of DP World Middle East and Africa, said “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.”
.@DP_World - Sokhna celebrates its 10th anniversary by announcing it is near completion of a major expansion project that will bring DP World’s total investment in Egypt to $1.6 billion.https://t.co/EruXXCrS3z pic.twitter.com/7G6kctc63K
Built at a cost of $520 million and complementing 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. It is one of the largest direct investments into the Egyptian economy this year.
The expansion comes as the UAE and Egypt agreed to support a $20bn joint strategic platform to invest in a range of vital sectors and assets, with ports and economic zones being an integral driver for global competitiveness and economic prosperity.
Basin 1 is already operational 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.
Ajay Singh, CEO, DP World Sokhna said “From the beginning, we set out to position DP World Sokhna as Egypt’s leading port, and we remain committed to sustaining this success through in-depth market knowledge, constant improvement and operational versatility as we continue to mobilise our expertise and resources to develop infrastructure that caters to our customers’ needs, from point of origin to consumption.”