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DP World allocates $80m to develop logistics area in Sokhna

DP World allocates $80m to develop logistics area in Sokhna
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Cairo – Mubasher: DP World plans to invest $80 million to establish a new logistics park with an area of 300,000 square metres in Ain Sokhna, according to a press release.

The first phase will be completed by the end of 2024, forming a part of an integrated system that links the port with the operator’s logistical services.

DP World opened five logistics offices located in Cairo, Alexandria, Cairo Airport, Beni Sweif, and Ain Sokhna. These investments back greater economic growth, as the trade between UAE and Egypt increased by 6.5% to $ 4.60 billion in 2023.

The announcement came during the New Generation Initiative from the new urban areas, which was held under the auspices of the President of Egypt.

Sultan Ahmed bin Sulayem, Chairman and CEO of DP World, said: “DP World invests in young people by providing them with training and direct work experiences across the group’s business units to connect emerging markets with global trade routes and support supply chains.”

The CEO also highlighted that DP World had invested $1.30 billion in Ain Sokhna port expansion, transforming it into a world-class hub to support the Arab Republic’s growing trade requirements.

“We have provided thousands of job opportunities directly and indirectly to the local community, and DP World is committed to Egypt in investing and working to expand our services to provide more support to the Egyptian economy,” Sultan added.

In April, DP World received a new mobile harbour crane in Sokhna to foster its productivity and efficiency for the benefit of customers.