Dubai, 14 Oct. 2010 (WAM) - Egypt's Prime Minister Ahmed Nazif and DP World Chairman Sultan Ahmed Bin Sulayem today officiated at a signing ceremony of an agreement between DP World and the Red Sea Ports Authority that clears the way to double the size of DP World's container operations in Sokhna Port.
The ceremony was also attended by the UAE's Ambassador to Egypt Mohammed Nakheera Al-Dhaheri, Egypt's Transport Minister Alaa Fahmy and other senior officials. The new terminal at Sokhna Port, which is located at the southern end of the Suez Canal, will have a quay length of 1,300 metres and a capacity of 1.75 million TEU, more than doubling DP World Sokhna's existing capacity to match the rapid increase in volumes at the port. It is anticipated the new capacity will be available within four years. The new agreement replaces the original concession agreement awarded to DP World Sokhna and further extends the concession to 35 years after the construction of the new terminal. DP World Chairman Sultan Ahmed Bin Sulayem said: "We are very pleased to have the opportunity to further develop Sokhna Port. The new agreement is recognition of the contribution DP World Sokhna has made to the local economy and the successful role it has played in meeting the growing needs of our customers with quality services. We thank the Red Sea Ports Authority for the trust placed in us and look forward to a growing cooperation."Captain Osama Al Sharif, Chairman, DP World Sokhna, said: "The DP World Sokhna Basin 1 terminal has been performing extremely well, working above capacity, thanks to the high level of cooperation we have received from our customers and the authorities. DP World Sokhna has already brought a new level of energy to economic activity in this part of Egypt with its state-of-the-art maritime facility. We hope to contribute even more to Egypt's growth under the new agreement."Sokhna Port is the closest container port to Cairo and one of Egypt's busiest. It is located within the 90 square kilometres North West Suez Economic Zone, the first of its kind in the country.Copyright Emirates News Agency (WAM) 2010.
