{"id":610026,"date":"2023-11-14T00:00:00","date_gmt":"2023-11-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/14\/dp-world-to-start-building-sokhna-port-logistics-zone-this-month\/"},"modified":"2023-11-14T00:00:00","modified_gmt":"2023-11-14T00:00:00","slug":"dp-world-to-start-building-sokhna-port-logistics-zone-this-month","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/14\/dp-world-to-start-building-sokhna-port-logistics-zone-this-month\/","title":{"rendered":"DP World to start building Sokhna port logistics zone this month"},"content":{"rendered":"

A new Ain Sokhna logistics zone will soon be in the works<\/strong>:<\/strong> Emirati state-owned port operator DP World will break ground on its USD 80 mn logistics zone at Ain Sokhna port this month, the company said in a statement<\/a>(pdf)<\/a>. The company inked the construction agreement<\/a> with the Suez Canal Economic Zone\u2019s Main Development Company (MDC) back in August 2022 and the first phase is expected to be completed by the end of 2024 and is expected to create 6k jobs, according to the statement.<\/p>\n

DP World is no stranger to Egypt: <\/strong>The company has so far deployed USD 1.3 bn in the country, said DP World CEO and Chairman Sultan Ahmed bin Sulayem. DP World is also the main operator of the Ain Sokhna port and has investments including a USD 520 mn expansion<\/a> ; it is currently adding another 500K TEUs of capacity at the facility, according to the National<\/a>. <\/p>\n

DP World isn\u2019t the only one interested in the Ain Sokhna Port: <\/strong>Fellow Emirati shipping and logistics giant Abu Dhabi Ports is eyeing up<\/a> big investments in Ain Sokhna and and said in 2021 that it could invest USD 500 mn<\/a> to develop a terminal at Ain Sokhna port<\/a> and another at Safaga port. The port has also been undergoing a USD 20 bn redevelopment plan<\/a> that began in 2021 that saw Hutchison Ports, Cosco and CMA CGM sign a contract to build a new container terminal at the port that would triple<\/a> the port\u2019s annual capacity. <\/p>\n

DP World says it is committed to Egypt:<\/strong> The company will continue to invest in the Ain Sokhna port and other logistics services to bolster maritime trade and support the Egyptian economy, the statement reads. <\/p>\n","protected":false},"excerpt":{"rendered":"

The company has so far invested USD 1.3 bn to develop the Ain Sokhna port<\/p>\n","protected":false},"author":1,"featured_media":610027,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8237],"tags":[130,2020,72,145],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-610026","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-logistics","tag-construction","tag-dp-world","tag-enterpriseam","tag-logistics","wpautop","entry"],"acf":{"mongo_id":"e7c8c371-c5fe-4284-ac67-eb95d01a90f1","order":"0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/11\/685.jpg","photo_position":"above","homepage_title":"","full_issue_title":"DP World to start building Sokhna port logistics zone in November 2024","related_issue":[610017],"teaser":"The company has so far invested USD 1.3 bn to develop the Ain Sokhna port","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/11\/.77633c7a-42a8-46ff-ab2c-7282bf745814.mp3"},"yoast_head":"\nDP World to start building Sokhna port logistics zone this month - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/14\/dp-world-to-start-building-sokhna-port-logistics-zone-this-month\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DP World to start building Sokhna port logistics zone this month\" \/>\n<meta property=\"og:description\" content=\"The company has so far invested USD 1.3 bn to develop the 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port expansion to be complete by 2Q2020: A USD 520 mn expansion of the Ain Sokhna seaport is due for completion by the second quarter of 2020, UAE-based DP World CEO and managing director for the Middle East and Africa, Suhail Al Banna\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/642.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548744,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/21\/sczone-dp-world-sokhna-partner-up-for-new-logistics-service-zone\/","url_meta":{"origin":610026,"position":1},"title":"SCZone, DP World Sokhna partner up for new logistics service zone","author":"enterpriseam admin","date":"21 August 2022","format":false,"excerpt":"A new logistics zone in Sokhna: The Suez Canal Economic Zone\u2019s (SCZone) Main Development Company (MDC) and DP World Sokhna have signed an agreement to build a USD 80 mn logistics zone at Sokhna Port, a statementby the SCZone read.The details: Construction on the first phase of the zone will\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/331.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555827,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/29\/dp-world-has-another-usd-25-35-mn-lined-up-for-ain-sokhna-port\/","url_meta":{"origin":610026,"position":2},"title":"DP World has another USD 25-35 mn lined up for Ain Sokhna port","author":"enterpriseam admin","date":"29 November 2021","format":false,"excerpt":"Emirati port operator DP World will invest USD 25-35 mn in Ain Sokhna seaport over the next 2-3 years, DP World Sokhna CEO Gerard van den Heuvel tells Al Mal, less than a week after completing the multi-mn USD expansion of the Red Sea port. The next round of investment\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/632.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":556146,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/13\/ain-sokhna-is-getting-fresh-dp-world-cdc-investments\/","url_meta":{"origin":610026,"position":3},"title":"Ain Sokhna is getting fresh DP World + CDC investments","author":"enterpriseam admin","date":"13 October 2021","format":false,"excerpt":"Ain Sokhna Port is getting additional investment from Emirati port giant DP World and CDC Group, the UK government\u2019s development finance arm. The two institutions are setting up a joint USD 1.7 bn African investment platform, a portion of which will go towards Ain Sokhna, DP World said in a\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/10\/143.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":601562,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/04\/dp-in-talks-with-egypt-banks-for-usd-500-mn-ain-sokhna-port-expansion\/","url_meta":{"origin":610026,"position":4},"title":"DP in talks with Egypt banks for USD 500 mn Ain Sokhna port expansion","author":"enterpriseam admin","date":"4 March 2019","format":false,"excerpt":"UAE\u2019s DP World is in talks with banks in Egypt to arrange a USD 500 mn loan to finance its Ain Sokhna port expansion project, banking sources told Al Shorouk. Some of the banks are based in GCC countries but all have branches in Egypt. The loan will cover the\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":637108,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/08\/suez-canal-authority-signs-six-mous-for-projects-worth-a-combined-usd-40-mn-at-wyf\/","url_meta":{"origin":610026,"position":5},"title":"Suez Canal Authority signs six MoUs for projects worth a combined USD 40 mn at WYF","author":"enterpriseam admin","date":"8 November 2017","format":false,"excerpt":"INVESTMENT WATCH- The Suez Canal Authority signed six MoUs for projects worth a combined USD 40 bn at the World Economic Youth Forum yesterday, Youm7 reports. DP World is expected develop USD 5.6 bn in infrastructure over a 96k sqm area in Ain Sokhna, sources tell Al Mal. The port\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/610026","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=610026"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/610026\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/610017"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/610027"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=610026"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=610026"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=610026"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=610026"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=610026"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}