Egypt’s SCA, SCZone reach final agreement with UAE’s DP World for Sokhna JV

The Suez Canal Authority (SCA) and the Suez Canal Economic Zone (SCZone) have reached a final agreement with DP World on setting up a joint venture to develop 45 sqm in Ain Sokhna, SCA boss Mohab Mamish said at a press conference. The JV will be 49% owned by the UAE-based port operator and 51% owned by the SCA. No further details were provided beyond a reference to earlier press reports estimating the SCA’s share of the project at EGP 4 bn.