DP World Group Chairman Sultan Ahmed bin Sulayem has expressed interest to work with Egypt’s Economic Zone on new projects, as the world’s largest port operator seeks to invest further in the region.
Sulayem met with the Egyptian authority’s chairman, Walid Gamal El-Din, on the sidelines of COP28 in Dubai and discussed potential investment opportunities, particularly in the country’s ports and industrial zones, according to a statement.
During the meeting, Sulayem outlined DP World’s strategy, which focuses on investing in “industrial regions” as a foundation for optimising port operations. He also said the company is looking to partner with businesses for components or products, to ensure more efficient port operations.
DP World has recently kicked off construction of its $80 million logistics park project at the Sokhana Port. The project is being developed on a 300,000-square-metre site and is expected to boost the company’s logistical capabilities in the region.
In the recent meeting, El-Din said there are several “promising” investment opportunities available for DP World within the Suez Canal Economic Zone.
He highlighted the strategic location of East Port Said Port, and spoke about the food and textile industries in the Qantara West region, and the Al-Arish Port, which is primarily used for cement exports.
(Writing by Cleofe Maceda; editing by Brinda Darasha)