DP World To Develop Suez Canal Economic Zone

Admiral Mohab Mamish Chairman of Suez Canal Authority and Chairman of Suez Canal Economic Zone, and The Executive Board of Dubai Ports World Sultan Ahmed Bin Sulayem, had signed the partnership agreement Today in the United Arab of Emirates.

Admiral Mamish and Sultan Ahmed signed the contract in the initials in preparation for the final signing of the contract for establishing a major development company for the development of Ain Sukhna zone.

“The partnership provides the development of an area of 95 square kilometers in Ain Sukhna, include an industrial area with an approximate area of 75 square kilometers, as well as a residential area of 20 square kilometers to accommodate nearly 650 thousand people.” Mamish said.

The partnership also aims to develop the Ain Sokhna Port with an approximate area of 22 square kilometers, which aims to create direct job opportunities estimated at 500 thousand jobs within the economic zone, and will start work by 2018.

Admiral Mamish announced that the industrial zone includes many industries, especially in the fields of SME, logistics, construction materials, food industries, textiles, textiles, electronics, telecommunications, automotive spare parts, medical city and petrochemicals.

The signing ceremony comes within the framework of the development of the distinguished relations between the two countries, Egypt and the UAE, and in accordance with the agreement of President Abdel Fattah Al Sisi, President of the Arab Republic of Egypt to establish a major development company in partnership between the General Authority of the Suez Canal Economic Zone and the DP World Group.

The new venture will see the global terminal operator assist in developing projects in the SCZone, the main trade route between Europe and Asia, serving more than 8% of annual global trade.

The new district will feature residential and entertainment spaces and will be in line with the Egyptian Government’s commitment to creating a business-friendly environment in the country.

SCZone integrates Ain Sokhna Port and East Port Said Port and features two development areas in Qantara West and East Ismailia.

The four ports of West Port Said, Adabiya, Al Tor and Al Arish, are all waiting on expansions that will increase their maritime traffic capacities.

There are also plans to offer services such as ship building, stevedoring, bunkering, vessel scrapping, and recycling.