DP World expands into Egypt

The remaining 10% of ECHCO remains with Amiral Holdings. Captain Ossama Al-Sharif will remain as chairman of the port and an active partner in the enterprise through Amiral Holdings Ltd.

Sokhna is the closest container port to Cairo, and is expected to have a capacity of 1.2m teu by end 2009. The port is located within the North West Suez Economic Zone, the first of its kind in Egypt.

Sultan Ahmed bin Sulayem, DP World chairman, said that Egypt is the largest economy in North Africa and is rapidly becoming a major force in the region with foreign direct investment growth of 65% per annum since 2000.