There's definitely no Qatari involvement here: Dubai Ports to invest in Suez Canal Project
UAE’s Dubai Ports World plans to invest in the ventures which are to be offered as part of Egypt’s Suez Canal Development Project, Deputy CEO Ibrahim Alhammadi told Logistic.
He said that DP World, which is among the leading port and terminal operators worldwide, is awaiting an international bid offer for the second berth of Al Sokhna Port, where the company intends to invest $600m, in addition to building a logistics zone on a total area of 500,000 square metres for storing containers.
Alhammadi added that DP World plans to carry out the Sokhna third berth with costs exceeding $200m.
The DP World Deputy CEO had estimated the trading volume of a 20-foot equivalent unit (TEUs) at 511,000 containers in 2013, almost no change from 2012.
- Good news for Dubai's real estate as deals boosted by $31 billion
- Sale prices in Abu Dhabi's residential property sector up by 17 percent in H1
- Unholy spending? Luxury leasing options on the rise in Mecca
- Ajman: a viable, more affordable property market?
- Putting things in perspective: how many apartments in the Middle East can Ronaldo buy with his World Cup salary?