Dubai Ports World-Sokhna (DP World) signed a contract to establish a new 300,000-square-metre logistics service zone with an estimated investment of $80 million at Egypt’s Sokhna Port, the SCZone announced on Thursday.
The operations to build up the logistic park will begin in the coming months, as it expected to operate the first phase by the end of 2023 with investments costed $50 million.
The project goals to serve investors and customers in logistics, trading, distribution, value-added, and light industrial activities.
Moreover, the project will provide about 600 job opportunities, as one of the most important objectives of the authority to achieve its development vision within Egypt’s vision 2030.
The agreement has signed by the CEO of DP World-Sokhna Urs Moll and the CEO of SCZone’s main development company Abdel-Nasser El-Rafai.
