Head of the Suez Canal Authority Mohab Mamish, who is also head of the Suez Canal Economic Zone, and Sultan Ahmed bin Salim the CEO of Dubai International Group (DI) on Tuesday initialed an agreement here on implementing the first phase of the international Sokhna project.
The project will be carried out by the DI on a space of 30 square km, said a statement issued by the economic zone.
The agreement comes upon the directives of the political leaderships of the two countries to enhance joint investments and create more jobs.
The project is aimed at developing an industrial, residential and logistical zone in Ain Sokhna, added the statement.
Partnership between both sides is aimed at upgrading Ain Sokhna port with a view to creating more job opportunities estimated at 500,000 inside the economic zone.