China Harbour to build and operate Ain Sokhna and Damietta ports as part of agreement
- UAE firm invest $6bn in two Egyptian ports
- China Harbour to build and operate ports
- Transport Minister says eastern ports will see increased investment
Egypts Transport Ministry and the UAEs Al-Suwaidi group have signed a $6bn agreement for the development of two ports in Egypt.
The agreement, signed on 14 March at the governments Egypt Economic Development Conference in Sharm el-Sheikh, will see investment pumped into existing ports at Ain Sokhna and Damietta.
As part of the agreement, Bejing-based China Harbour was also confirmed as the main contractor and operator for the ports.
The deal was facilitated by local investment bank Beltone Financial.
Speaking on the sidelines of the investment conference, Egypts Transport Minister Hany Dahy told MEED that investment in logistics and transport networks is a high priority for the current government, and that Egypt will also be investing heavily in its eastern ports in a bid to support the Suez Canal expansion.
You might also like...
Iran-US talks see earnest engagement
27 February 2026
Kuwait receives bids for $400m Subiya utilities plant works
27 February 2026
A partner’s perspective on working with Sharakat
27 February 2026
Egypt’s Obelisk equity move merits attention
27 February 2026
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.
Take advantage of our introductory offers below for new subscribers and purchase your access today! If you are an existing client, please reach out to your account manager.
