Sokhna World Zone is to be an integrated industrial and residential zone covering some 95 sq km, owned 51% by SCZone and 49% by DP World, an audience of investors and businesses in Dubai was told.
As many as 400,000 jobs could be created by development of the new zone, said Adm. Mamish, who added that further details of the plan would be released by the Egyptian authorities in coming months.
The zone will be managed by DP World, which already operates the port of DP World Sokhna, The Dubai-based group will bring its experience of having successfully creating and run the Jebel Ali Free Zone (Jafza), as well as its expertise in global ports and logistics.
Jafza currently has over 7,300 companies on site and will act as is a model for the Sokhna World Zone that will similarly target small and medium sized enterprises (SMEs) and be 1.5 times bigger, said Bin Sulayem.
The new zone will transform the Suez Canal and establish a trade and business hub, changing the lives of thousands and those of future generations’,” he added, in just the same way that DP World has been able to diversify the Dubai and UAE economy.
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