DP World commits to further investment in Egypt to support logistics and trade growth
DP World, operator of the multipurpose terminal at the Port of Ain Sokhna, expressed its ongoing commitment to supporting Egypt’s economic ambitions through further investment in the development of the country’s trade and logistics sector.
Sultan Ahmed bin Sulayem, DP World’s Group Chairman and CEO took part in TransMEA 2023, the latest edition of the Smart Transport, Infrastructure and Logistics Exhibition and Conference for the Middle East and Africa, highlighted the group’s commitment to Egypt, where it has already invested 1.3 billion USD to develop the multipurpose terminal at the port, the country’s main gateway
for trade on the Red Sea.
Addressing Egypt’s Prime Minister Dr. Mustafa Madbouly, Minister of Transport, Lt. General Engineer Kamel Al-Wazir, and other senior government officials, Bin Sulayem said:
“The Egyptian economy is poised for significant growth, thanks to a positive climate that is attracting foreign investment. The Egyptian government has taken several steps in recent years to develop infrastructure at record pace, while improving investment procedures, particularly for transport and logistics to capitalise on Egypt’s position as a major gateway to the African continent.
“DP World is committed to playing its role in achieving these goals through the expansion of our projects and businesses in Egypt. Our investments in Sokhna have reached $1.3 billion to date, and we are working to expand our services and logistics to further support the Egyptian economy.”
The chairman also outlined the development of a 300 000 square metre port-centric logistics services zone at Ain Sokhna with a committed investment of 80 million USD. The zone will cater to logistics, trading, distribution and value-added activities. Construction of the zone will start this month with completion of the first phase is by the end of 2024. The zone will form an integrated ecosystem of trade linked to the port, and along with other DP World logistics services, offer customers world class end to end solutions.
DP World is a leading global supply chain solutions provider, operating ports, terminals, economic zones and logistics centers across more than 73 countries on six continents, and
employs more than 106,500 employees.
