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Suez Canal not finalising talks with DP World for Ain Sukhna development

Suez, Egypt (PortSEurope) December 5, 2018 – Suez Canal Economic Authority spokesperson Hind Fathi has denied reports about the launch of a joint project with DP World for the incorporation of a joint venture for the development of an industrial area of 45 km² in Ain Sukhna.

There are no immediate plans for the finalisation of the project, in which DP World would hold a 49% stake while the remainder would be owned by the Suez Canal Economic Authority, Fathi said.

The negotiations between Egypt and UAE for the launch of the project were launched on November 7, 2017. Currently, some of the largest international consultancy offices are completing the study on the establishment of the company.

Source: Al Akhbar

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