DP World has established a joint development company with the General Authority for the Suez Canal Economic Zone (SCZone) in Egypt.
The new venture will see the global terminal operator assist in developing projects in the Suez Canal Zone, the main trade route between Europe and Asia, serving more than 8% of annual global trade.
In a meeting about the new venture, DP World Chairman and CEO, Sultan Ahmed bin Sulayem, briefed Egyptian President Abdel-Fattah El-Sisi on how the company plans to enhance its business in Egypt through projects such as a dedicated industrial, trade logistics district.
The new district will feature services and facilities in addition to residential and entertainment spaces and will be in line with the Egyptian Government’s commitment to creating a business-friendly environment in the country.
The SCZone integrates Ain Sokhna with Ain Sokhna Port and East Port Said with East Port Said Port.
It also features two development areas in Qantara West and East Ismailia, and four ports — West Port Said Port, Adabiya Port, Al Tor Port and Al Arish Port.
Planned port expansions will increase the capacity for handling maritime traffic and for offering related services such as ship building, stevedoring, bunkering, vessel scrapping, and recycling.
DP World handled 34 million TEU across its global portfolio of container terminals in the first half of 2017, building upon its first-quarter result of 16.4 million TEU.
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