Expansion to bring millions into Egypt
DP World Sokhna has hit 10-years in operation and marked the milestone by announcing it’s major expansion project that will bring DP World’s total investment in Egypt to US$1.6 billion is almost complete.
The expansion, known as ‘Basin 2’, is anticipated to be operational by early 2020, doubling the port’s capacity to 1.75 million TEU.
The cost of the expansion is roughly US$520 million and comes after 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.
The 10-year anniversary event of DP World Sokhna, was held at the Nile Ritz Carlton hotel in Cairo.