DP World extends concession in Egypt

Port operator DP World will double the size of its container operations at Sokhna Port in Egypt. DP World and the Red Sea Ports Authority have signed an agreement that clears the way to double the size of DP World's container operations in Sokhna Port. The new agreement replaces the original concession agreement awarded to DP World Sokhna and further extends the concession to 35 years after the construction of the new terminal. The agreement was signed in the presence of Egypt's Prime Minister Ahmed Nazif, DP World Chairman Sultan Ahmed Bin Sulayem, UAE's Ambassador to Egypt Mohammed Nakheera Al-Dhaheri and Egypt's Transport Minister Alaa Fahmy. The new terminal at Sokhna Port, which is located at the southern end of the Suez Canal, will have a quay length of 1,300 metres and a capacity of 1.75 million TEU, more than doubling DP World Sokhna's existing capacity to match the rapid increase in volumes at the port. It is anticipated the new capacity will be available within four years. “The new agreement is recognition of the contribution DP World Sokhna has made to the local economy and the successful role it has played in meeting the growing needs of our customers with quality services,” DP World Chairman Sultan Ahmed Bin Sulayem said in a statement. Captain Osama Al Sharif, Chairman, DP World Sokhna, said: "The DP World Sokhna Basin 1 terminal has been performing extremely well, working above capacity, thanks to the high level of cooperation we have received from our customers and the authorities." Sokhna Port is the closest container port to Cairo and one of Egypt's busiest. It is located within the 90 square kilometres North West Suez Economic Zone, the first of its kind in the country.