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Dubai port operator DP World has expanded into Egypt, acquiring a 90 percent stake for US$670 million in Egyptian Container Handling (ECHCO), which operates Sokhna Port, located about 40 km south of the Suez on the banks of the Red Sea.
ECHCO is the controlling shareholder of Sokhna Port Development (SPDC), the remaining 10 percent remains with Amiral Holdings.
Sokhna is the most modern and first automated port in Egypt and has facilities to accommodate container vessels of over 8,000 TEUs.
The port is 130 km east of Cairo and 20 km from Adabiya. The port is connected to road and rail networks and has links to all inland points previously served via Adabiya.
It is built within the Suez Special Economic Zone (SSEZ), which is poised to become a major commercial and industrial area in Egypt.
The port has faster and more efficient cargo clearance compared to Adabiya and other Egyptian ports, thereby minimising delays and damage to cargo.
CargonewsAsia
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