Kuwaiti Firm Invests USD 60 Million to Construct Two Suez Canal Ports
The two logistic port zones will be built in Ain El Sokhna and Port Said, automating the customs process in Egypt’s SCZONE.
The Suez Canal Economic Zone (SCZONE) is one of Egypt’s main streams of revenue due to its pivotal role in global trade, and it will soon become more equipped with a USD 60 million investment into the construction of a logistics port in Ain El Sokhna, and another in Port Said.
The project is part of a series of collaborations between SCZONE and Kuwait’s global supply chain firm Agility Public Warehousing Company. The ports are expected to help automate the customs process in the Suez Canal, and utilise Agility’s operational expertise in operating the logistics centres on the Mediterranean Sea coast.
Construction will begin in the second half of 2023 over an area of 100,000 square metres in each port. The ports are expected to increase the efficiency of SCZONE, and welcome more foreign investments in Egypt, specifically Kuwaiti investments, which are worth USD 15 billion.