DP World shares surge four percent on Egypt expansion

14 October 2010

Shares of the third largest port operator DP World gaind four percent to close at $0.572. Earlier in the day, DP World announced that it will double the size of its container operations in Egypt's Sokhna Port at the Red Sea coast.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 1.75m 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.

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