DP World Sokhna Expansion Project Near Completion
- Business & Finance
DP World Sokhna has celebrated its 10th anniversary by announcing it is near completion of a major expansion project that will bring DP World’s total investment in Egypt to $1.6 billion.
Basin 2 will be operational by the second quarter of 2020 and nearly double capacity at the port to 1.75 million TEUs per year.
Built at a cost of $520 million and complementing two operational basins, the expansion into Basin 2 includes a 1.3-kilometer-long quay with 400 meters in use in Phase 1, and a 350,000 square meter container yard.
The expansion comes as the UAE and Egypt agreed to support a $20bn joint strategic platform to invest in a range of vital sectors and assets, with ports and economic zones being an integral driver for global competitiveness and economic prosperity.
Basin 1 is already operational with a capacity of 945,000 TEUs. Basin 3 is a liquid bulk station spanning 400 square meters which is a major gateway for Egypt’s energy imports.
The 10-year anniversary event of DP World Sokhna, was held at the Nile Ritz Carlton hotel in Cairo, on Tuesday November 19.