A major source of income for Egypt is the Suez Canal Economic Zone (SCZONE), which will soon be better equipped thanks to a USD 60 million investment in the development of two logistics ports in Ain El Sokhna and Port Said.
The endeavour is a part of a string of partnerships between SCZONE and Agility Public Warehousing Company, a worldwide supply chain company based in Kuwait. In addition to using Agility’s operational skills to run the logistics centres along the Mediterranean Sea coast, the ports are anticipated to assist in automating the customs procedure in the Suez Canal.
In each port, work will start on a 100,000 square metre area in the second half of 2023. Ports are anticipated to Boost SCZONE’s effectiveness and encourage more foreign investment in Egypt, particularly Kuwaiti investments, which are currently worth $15 billion.
EGYPT TO INVEST USD 60 MILLION IN DEVELOPING TWO LOGISTICS PORTS
