DP World and the Suez Canal Economic Zone (SCZone) have agreed to develop an integrated industrial and residential zone at Sokhna in Egypt. They will set up a joint venture (51%: SCZone, 49%: DP world) to run the Sokhna World Zone project.
Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said: “This project will be 1.5 times bigger than Jafza (Jebel Ali Free Zone) and enable access to the Egyptian market and the region as well as complement what we have achieved here in diversifying the Dubai and UAE economy.”
The Sokhna World Zone will cover 95 sq km with an estimated 400,000 jobs and include industrial and residential areas coupled with the development of DP World’s operations at Sokhna Port, increasing its capacity and linking it to the industrial zone. Business sectors include light and medium-sized industries, logistics, and service utilities. Targeted industries include medical, electronics and communications, construction materials, logistics, textiles, automotive parts, food processing, energy production components and petrochemicals. DP World hopes to attract foreign investment and incentives to encourage the management of SEZs, free zones, ports and logistics hubs in the area.
Source: DP World
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