DP World, Egypt on Expansion of Sokhna Port
DP World and Egypt's General Authority for Investment and Free Zones (GAFI) have is planning to increase the capacity of Egypt’s Sokhna port located south of Suez Canal, off the Red Sea coast, Egypt’s official State Information Service reported. DP World’s chief executive Sultan Ahmed bin Sulayem and GAFI CEO Mohamed Khodair have discussed the next phase of development in Ain Sokhna. The development will increase the capacity of Sokhna port, which sits south of the Suez Canal on the Red Sea on a maritime trade route from Asia to the Middle East and beyond. Sultan bin Sulayem cited Egypt's strategic location and other assets as drivers of investment and international trade in the coming period. The majority of Egypt-bound cargo from the east is imported via Sokhna.
Suez Canal Revenues at $5.4 billion
Suez Canal revenues reached $5.4 billion in the fiscal year 2014-15, with a $3.7 million increase compared to the fiscal year 2013-14, says Cairo Post. This year’s revenues are the highest in the history of the canal with a slight increase than the previous year. Suez Canal revenues reached $422.1mln in April, the cabinet-affiliated State Information Service (SIS) said, marking a $2mln increase compared to the Canal revenues in March which recorded $420.1m. The total number of ships passing through the Suez Canal in April recorded 1,443 ships with net tonnage marking 81,586 tonnes, according to the Suez Canal Authority’s official statistics. However, in March, 1,437 vessels passed through the canal with cargo amounting to 82,582 tonnes.
62.9% of Dredging at New Suez Canal Finalized
Up to 157.260 million cubic meters of water-saturated sand have been dredged so far as part of the Suez Canal Development Project, said executive director supervising the dredging process Wagdi Zaki, according to a statement by Egypt State Information Service (SIS). This represents 62.9 percent of a total 250 million cubic meters that should be dredged as part of the project, he added in statements Thursday 30/04/2015. As many as 37 dredgers are working in the project, Zaki noted. Mamish said 98 percent of dry digging was accomplished and 227 million cubic meters of sand were lifted. He added that 140 million cubic meters of wet sand were also removed.
