Dubai Ports to invest in Egypt projects
Sources at Dubai Ports World have recently announced that the company intends to invest Dh32 billion ($8.7 billion) in several industrial development projects Egypt, including a new seaport and a container terminal with related infrastructure at Eastern Port Said.
The newly-established holding company will invest $3.5 billion in the development of the container terminal, while $5.2 billion would be spent on establishing facilities to serve the port and ship and container movement through the Suez Canal, reported Khaleej Times.
According to the deputy chairman of the Egyptian Investment Authority, Mahmoud Atta Allah, the authority will soon conclude its negotiations with DP World on developing the Eastern Port Said project.
- DP World wooed by Korean container terminal authority
- Dubai Ports Authority reports 24% increase in cargo handling
- $500 million Chinese container terminal to be developed by DP World
- Ain Sukhna port to become operational by year-end
- Official says Dubai Ports Authority expects 20% growth in container throughput