DP World and the Suez Canal Authority signed an agreement to implement the first phase of development of an integrated industrial and residential zone in Sokhna, Egypt. The framework agreement was signed by Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World and Admiral Mohab Mamish, Chairman of the Suez Canal Authority and the Suez Canal Economic Zone (SCZone).
“We are pleased to move ahead with the development of this promising new project, which has the potential to substantially increase foreign investment into Egypt’s economy…”commented Sultan Ahmed Bin Sulayem.
Admiral Mohab Mamish said: “ …With DP World, Egypt will harness all available resources and capabilities to ensure the success of this project, which will bring significant benefit for future generations… “
In the end, the sectors of activity of the zone will include light and medium-sized industries as well as logistics and service utilities.