The General Authority for the Suez Canal Economic Zone (SCZONE) and Sky Ports Company penned a memorandum of understanding (MoU) to develop and operate an integrated multi-purpose terminal at Ain Sokhna Port, according to a statement.
Waleid Gamal El-Dien, Chairman of the authority, signed the agreement with Tarek Hussein, Chairman of Sky Ports.
The two parties also signed a usufruct agreement to license the use of a berth and land areas under a usufruct system for a period of 18 months, subject to the technical studies for the project.
The new terminal includes a 588-meter-long quay and a 250,000-square-meter logistics yard, as well as covered warehouses totalling 100,000 square meters within the Ain Sokhna industrial zone.
It is directly linked to an integrated customs yard that provides logistical services to expedite cargo handling and reduce vessel waiting times.
The terminal is expected to commence operations with a handling capacity of at least 2 million tons annually in its first phase. It will serve shipping and trade routes to and from East Africa, the Gulf countries, Saudi Arabia, the Far East, and India, reinforcing Ain Sokhna Port's position as a pivotal hub for global trade.
Gamal El-Dien highlighted that this project marks a qualitative leap in the logistics services provided by the Ain Sokhna Port and enhances integration between the port and the adjacent industrial zone to serve local and international supply chains.
He added that the SCZONE is working to achieve integration between its ports and industrial zones through strategic partnerships with the local and global private sector. This helps reduce logistical costs and increase the efficiency of shipping, unloading, and storage operations.
He also highlighted that the development works of the Sokhna port are nearing completion, securing multi-purpose terminals to serve various activities and investors, which will improve the port’s ability to receive and handle goods with greater efficiency.
For his part, Hussein indicated that the state's efforts to develop Egyptian ports, both on the Red Sea and the Mediterranean via the Suez Canal, contributed to strengthening the capabilities of national ports and creating a promising investment environment in this vital sector.
