Contractor starts Sokhna logistics park work
- Date: 29-Nov-2023
- Source: MEED
- Sector:Real Estate
- Country:UAE
Contractor starts Sokhna logistics park work
UAE-headquartered Innovo Group has started the construction works on the Port of Sokhna logistics park in Egypt.The first phase, to be developed at an investment of $50m, is expected to become operational by the end of 2024.The logistics park will span an area of 300,000 square metres. The planned facility will cater to logistics, trading, distribution, value-added and light industrial activities.According to the Suez Canal Economic Zone (SCZone), the groundbreaking ceremony was attended by its chairman, Waleid Gamal El-Dien, Suez Governor Abdel Majeed Sakr and DP World Regional Director Urs Moll.The project is being overseen by Cairo-headquartered Main Development Company (MDC), an SCZone subsidiary.In August 2022, MEED reported that Dubai-headquartered DP World and SCZone signed an agreement to develop a port-centric logistics services zone in Egypt’s Sokhna Port. The agreement was signed between Moll and Abdel-Nasser el-Rafai, CEO of MDC.
Contractor starts Sokhna logistics park work
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