The Suez Canal Authority and DP World have signed a partnership agreement to develop an integrated industrial and residential zone at Sokhna port in Egypt. The agreement establishes a joint venture between SCZone (51%) and DP World (49%) with DP World managing the zone, which is projected to start in the first quarter of 2018.
The development will aim to create a sustainable industrial zone to attract foreign investment. It will feature a range of investment incentives and encourage innovation using best international practice in the management of Special Economic Zones (SEZs), free zones, ports, and logistic hubs based on DP World’s global experience. The project will also promote the development of Small and Medium-sized Enterprises (SMEs), create job opportunities and provide training for young Egyptians adding value to the economy.