Sokhna Port Development Company

completed

The Sokhna Port Development Company (SPDC or the company) operates the Port of North El Sokhna (Sokhna or the Port) under a 25-year concession agreement awarded in mid-1999. The Port began commercial operations in October, 2002, and is the first fully private port operating in Egypt. It provides a deep water facility able to handle post-panamax vessels serving the Cairo area as well as the Suez Special Economic Zone (SSEZ), a 9,000 ha industrial development zone being developed adjacent to the Port. The Port benefits from a strategic location close to the southern entrance of the Suez Canal where it can become a gateway for cargo between Egypt and Asia as well as East Africa. The proposed project is to help finance the company’s 2001 – 2004 equipment and civil works investments. The project will help complete the first two phases of the company’s operating plan for the container, bulk, general cargo, and fertilizer terminals at the Port and increase the container terminal’s capacity to 250,000 TEUs per year.