DP World signs EGP 1.6 bn agreement to expand Ain Sokhna Port

INVESTMENT WATCH- UAE’s DP World moving ahead with EGP 1.6 bn expansion of Ain Sokhna port: DP World has signed an EGP 1.6 bn agreement to move ahead with part of its project to expand Ain Sokhna port, the domestic press reports, citing unnamed sources. Rowad Modern Engineering has been hired as a contractor for the project, which will bring the port’s total capacity at 1 mn TEU per year. Bringing DP’s total investments in the Ain Sokhna port to more than EGP 8.9 bn, the project is expected to be the largest environmentally friendly container handling facility in Egypt, according to AMAY.