Egypt TEDA Investment hopes a dry port project in China-EgyptSuez Economic and Trade Cooperation Zone in Ain Sokhna would be operational in January 2020. The dry port is spanning over 30,000 square metres, with investments of around 30 million Egyptian pounds ($1.81 million), said TEDA's business development deputy manager for logistics and commercial Mahmoud Beshr on Tuesday. "We seek to complete the port's utilities and infrastructure works at the end of the current year," Beshr further told Amwal Al Ghad. Located 120km (74.5 miles) to the east of Cairo near the Suez Canal, China-Egypt TEDA zone aims to provide 40,000 direct and indirect job opportunities. Egypt TEDA Co. is affiliated to Chinese TEDA Investment Holding, whose main scope of business covers regional development and real estate, public utilities, financial industry, and modern service industry Egypt TEDA was founded in 2008 with a capital of $8 million to develop China-EgyptSuez Economic and Trade Cooperation Zone, located at Northwest Special Economic Zone of Gulf of Suez, with total investments of $100 million.
