DP World to begin construction on Sokhna logistics zone this month: Emirati 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 (pdf). The company inked the construction agreement with the Suez Canal Economic Zone’s (SCZone) Main Development Company (MDC) back in August 2022.

The company has so far deployed USD 1.3 bn into its multipurpose terminal at the Ain Sokhna port, said CEO and Chairman Sultan Ahmed bin Sulayem. DP World is the main operator of the Ain Sokhna port.

There’s more where that came from: The company will continue to pour investments into the Sokhna port and other logistics services to bolster maritime trade and support the Egyptian economy, the statement reads.

Remember: The company in November 2021 said it would invest USD 25-35 mn in the Sokhna port over the next 2-3 years, days after it completed a USD 520 mn expansion of the port. A year earlier, bin Sulayem said he was “bullish” on Africa, praising Egypt’s economic policies as being pro-growth.

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