Cairo – Mubasher: Suez Canal Authority's (SCA) chief Mohab Mamish and Red Sea Ports Authority's head Hisham Abo Senna signed Saturday a joint venture agreement with DP World Sokhna and Sonker Bunkering Company for the development of Sokhna Port.
Mamish said the signing of the deal comes in line with directives by President Abdel Fattah El-Sisi to upgrade the sea port’s status as part of the broader scheme to develop the Suez Canal region.
The joint venture will be responsible over one year for installing a new harbor parallel to the current oil tanker harbor.
Egypt will own 60% of the JV's capital, while DP World Sokhna and Sonker will equally own the remaining 40%.
