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Egypt’s Prime Minister Ahmed Nasif and DP World Chairman Sultan Ahmed Bin Sulayem yesterday officiated at a signing ceremony of an agreement between DP World and the Red Sea Ports Authority to double the size of DP World’s container operations in Sokhna Port in a deal which is also set to have a positive impact on bunker sales volumes.

The ceremony was also attended by Egypt’s Transport Minister Alaa Fahmy, the Charge d’Affaires of the UAE Embassy in Egypt Abdullah Mohammed bin Abboud Alnaqdi and other senior officials.

The new terminal at Sokhna Port, which is located at the southern end of the Suez canal, will have a quay length of 1,300 metres and a capacity of 1.75 million TEU, more than doubling DP World Sokhna’s existing capacity to match the rapid increase in volumes at the port.

It is anticipated the new capacity will be available within four years.

A new concession agreement will replace the original concession agreement acquired by DP World in 2007 and extends the concession to 35 years after the construction of the new terminal.

DP World Chairman Sultan Ahmed Bin Sulayem said: “We are very pleased to have the opportunity to further develop Sokhna Port. The new agreement is recognition of the contribution DP World Sokhna has made to the local economy and the successful role it has played in meeting the growing needs of our customers with quality services. We thank the Red Sea Ports Authority for the trust placed in us and look forward to a growing cooperation.”

Captain Osama Al Sharif, Chairman, DP World Sokhna, said: “The DP World Sokhna Basin 1 terminal has been performing extremely well, working above capacity, thanks to the high level of cooperation we have received from our customers and the authorities. DP World Sokhna has already brought a new level of energy to economic activity in this part of Egypt with its state-of-the-art maritime facility. We hope to contribute even more to Egypt’s growth under the new agreement.”