File photo: SCZone Chief Yehia Zaki (Photo Courtesy of Egyptian immigration ministry)
Chairman of the Suez Canal Economic Zone (SCZone) Yehia Zaki reviewed with a delegation from Dubai Ports (DP) World, an Emirati multinational logistics company, the latest developments in the second basin at Egypt's Ain Sokhna Port.
DP World enjoys concessions at the quays of the Red Sea port of Sokhna, an affiliate of the SCZone.
Zaki received a delegation presided over by the UAE Company's CEO in the Middle East Suhail Al-Banna in Cairo on Wednesday to discuss joint cooperation, a statement by the SCZone said.
The meeting tackled the formal operation of the second basin in Ain Sokhna Port, Zaki said, adding "it will be operated directly within the coming months."
The meeting delved into some projects related to the development process in the economic zone and the company's business, especially in the industrial zone, in addition to the readiness of the basins in Ain Sokhna Port to reach the full capacity.
In November 2017, Egypt's SCZone Authority and DP World signed a partnership agreement to develop an integrated industrial and residential zone in Egypt's Red Sea coastal area of Sokhna.
The agreement will establish a joint venture between SCZone (51%) and DP World (49%), with DP World managing the zone.
Egypt has been pushing forward with efforts to lure investors to its SCZone in recent years, highlighting the available opportunities for foreign corporations.