Egyptian Suez Canal Economic Zone (SCZone) and The General Authority for Roads and Bridges (GARB) signed Wednesday a LE20 billion contract to develop Ain Sokhna Port, affiliated to the SCZone.
The agreement falls in the context of a plan to transform Ain Sokhna into a trading hub port for the Red Sea and the Middle East region, ultimately serving east-west global trade.
This is also in line with directives from Egyptian President Abdel Fattah El Sisi to develop the nation’s ports and enable them to compete with other Red Sea and Mediterranean ports.
SCZone chief Yehia Zaki and GARB chairman Hossam Eddin Moustafa signed the contract, making GARB responsible developing the port of Ain Sokhna.
The contract covers the design, implementation and supervision of the construction of four basins with berthing facilities over 12 kilometres long, 5.6 million square metres of warehousing and an
internal rail network with a link to the high-speed Ain Sokhna-New el-Alamein line.
“All construction work will be finished by 2023,” Mostafa said.
For his part, Zaki said Ain Sokhna development will make the industrial area into a global platform for petrochemical industries.
