There's definitely no Qatari involvement here: Dubai Ports to invest in Suez Canal Project
The Suez Canal Project is much needed for the Egypt's economic revival.
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.
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