Leading operators in battle for Sokhna, Egypt

Leading operators in battle for Sokhna, Egypt
Published: 24 October 2007

Leading operators are reportedly circling around Egypt’s Sokhna port, which is strategically located at the southern entrance of the Suez Canal and is in the bidding firing line after owner Orascom Construction Industries confirmed in September it was willing to sell the asset.  
 
DP World chairman Sultan bin Sulayem said DP World was interested in acquiring the port, in line with its wider global expansion plans.  
 
Speculation over Sokhna’s future has intensified after Orascom asked Deutsche Bank to seek bids for around $1bn for Sokhna Port Development Co. Sokhna port is approximately 85% controlled by Cairo-based Orascom and Sokhna chief executive officer Ossama Al-Sharif.