Sokhna Port Development Company

completed

This is a project to build and operate multi-user container, bulk, general cargo and fertilizer terminals at North El Sokhna Port (Sokhna or the Port) under a 25-year BOT concession awarded in May 1999 to Sokhna Port Development Company (SPDC or the company) by the Government of Egypt. In an effort to improve efficiency, add capacity, streamline procedures and reduce costs, Egypt passed a law in January 1998 enabling privatization of the maritime sector by allowing private companies to operate ports and act as maritime agencies. This is the first fully private port in Egypt and is situated on the west coast of the Gulf of Suez, 40 km south of Suez and 130 km south-east of Cairo, to which it is linked by road and rail. The project provides a deep water facility able to handle post-panamax vessels and benefits from a strategic location close to the southern entrance of the Suez Canal where it can become an Egyptian gateway for cargo with origin or destination in East Africa and Asia. Adjacent to the port, the Suez Special Economic Zone (SSEZ) is being developed over 9,000 ha. Eight industrial complexes already operate, including a steel plant, fertilizer producer, a bus assembly plant and a cement and concrete plant. SPDC currently handles steel, cement and urea cargoes for these industries, and containers.