A labor strike at Ain Sokhna Port has ended after five days, said the Suez governor late Thursday evening.
Major General Adel Refaat, the Suez governor, told the state-run news agency MENA that a compromise has been reached in a financial dispute between the workers and management of DP World, the port operator. MPs from Suez and leaders of the Third Field Army mediated to end the crisis, Refaat said.
The company management has agreed to allocate a larger share of its profits to workers and abide by the agreement. A representative of the Manpower and Immigration Ministry will ensure that all the terms of the agreement are implemented.
Ahmed Mahmoud, a Freedom and Justice Party MP from Suez, said Friday that the laborers will resume work immediately once the agreement is signed.
Striking workers had complained that DP World promised five months ago to pay them a better share of company profits and provide them with wage-risk premiums.
Ain Sokhna Port has suffered losses of over LE50 million due to the strike.
DP World, an international maritime port operator, signed an agreement with former Prime Minister Ahmed Nazif in October 2007 granting the company exclusive rights to run the port until 2032.
