Main Development Company (MDC), a part of Suez Canal Economic Zone (SCZONE), and DP World – Sokhna, a unit of Dubai-headquartered DP World, have signed an agreement to develop a port-centric logistics services zone in Sokhna Port.

The logistics park would be developed over an area of 300,000 square metres at an estimated investment of $80 million, and will cater to logistics, trading, distribution, value-added, and light industrial activities, SCZONE said in a press statement.

The first phase, which would be developed at an investment of $50 million, is expected to become operational by end of 2023, the statement said, adding that the project aims to provide about 600 direct job opportunities.

(Writing by Eman Hamed; Editing by Anoop Menon)