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DP World-Egypt, a subsidiary of UAE-based DP World, has entered into a Memorandum of Understanding (MOU) with Egypt's Administrative Capital for Urban Development (ACUD) and the General Authority for Investment and Free Zones (GAFI) to conduct a feasibility study for establishing a general free zone.
The MOU was signed by Khaled Abbas, Chairman and Managing Director of ACUD; Hossam Heiba, CEO of GAFI; and Avnash Iyer, COO Ports and Terminals, DP World-Egypt, in the presence of Egyptian Prime Minister Mostafa Madbouly and Minister of Industry and Transport and Deputy Prime Minister for Industrial Affairs Kamel El-Wazir.
The feasibility study will focus on a free zone covering approximately 500 acres within ACUD’s 1,958-acre land along the Cairo-Ain Sokhna Road.
Key industries in the proposed free zone will include electronics, automotive, fast-moving consumer goods, clothing, and footwear.
The free zone is strategically positioned near major Egyptian ports on both the Red and Mediterranean Seas, and will benefit from the Sokhna-Dekheila logistics corridor.
DP World-Egypt operates the Ain Sokhna Port and is developinng an 84-acre logistics facility in Ain Sokhna.
(Writing by Eman Hamed; Editing by Anoop Menon)
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