United Arab Emirates: The Red Sea Ports Authority and DP World have signed an agreement that clears the way to double the size of DP World's container operations in Sokhna Port.
The new terminal at Sokhna Port, which is located at the southern end of the Suez Canal, will have a quay length of 1,300 metres and a capacity of 1.75 million TEU, more than doubling DP World Sokhna's existing capacity to match the rapid increase in volumes at the port. It is anticipated the new capacity will be available within four years.
The new agreement replaces the original concession agreement awarded to DP World Sokhna and further extends the concession to 35 years after the construction of the new terminal.
Sokhna Port is the closest container port to Cairo and one of Egypt's busiest. It is located within the 90 square-kilometres North West Suez Economic Zone, the first of its kind in the country.
{WISroYQ symbol='3DW.F'}
