DP World Sokhna is on course to double its capacity to 1.75m teu by the second quarter of 2020 by opening Basin 2, making it the only Egyptian port capable of handling the largest container ships in the world.
Built at a cost of US$520m and complementing two operational basins, the expansion into Basin 2 includes a 1,300 m quay with 400 m in use in Phase 1, and a 350,000 sq m container yard.
Suhail Al Banna, CEO and managing director of DP World Middle East and Africa, said: “We are confident that our expansion into Basin 2 will significantly facilitate greater volume capacity at the port, which in turn, supports our commitment to bolstering Egypt’s economic growth by attracting greater investment and strengthening the foundations for a lucrative trade eco-system.”
The project will bring the operator’s total investment in Egypt to US$1.6bn.
The expansion comes as the UAE and Egypt agreed to support a US$20bn joint strategic platform to invest in a range of vital sectors and assets, with ports and economic zones being an integral driver for global competitiveness and economic prosperity.
Basin 1 is already operational with a capacity of 945,000 teu while Basin 3 is a liquid bulk station spanning 400 sq m, which is a gateway for Egypt’s energy imports.
Al Banna added: “Through our end-to-end commercial strategy, we have expanded our role to support port operations in industrial, economic, and logistic zones by facilitating the most efficient movement of cargo and access to global consumption centres, while adopting the latest innovative technologies.”