Abu Dhabi – Mubasher: Abu Dhabi Ports Company (AD Ports) and the General Authority for Suez Canal Economic Zone (SCZONE) penned a 50-year renewable usufruct agreement to develop the KEZAD East Port Said zone, according to a press release.
The two entities will cooperate to operate a 20 km2 industrial and logistics park near the Egyptian coastal city of Port Said on the Mediterranean Sea.
On its part, AD Ports will develop, construct, finance, operate, and manage the industrial and logistics zone in phases, starting with phase 1 on an area of 2.80 km2.
The group will allocate around $120 million in investment to develop phase 1 over the next three years. Meanwhile, the construction process is expected to commence by the end of 2025.
The development of Phase 1 will be backed by key clients and partners, including Hassan Allam Holding.
Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports, said: “In line with the vision of our wise leadership, this strategic cooperation is another sign of our group’s growing focus on Egypt, where we continue to enhance and develop our integrated trade, transport, and industrial ecosystem, offering clients unparalleled end-to-end solutions and services.”
“This infrastructure investment will provide a long-term source of economic growth for Egypt, while enhancing the Suez Canal role in promoting and supporting the East-West trade corridor,” Al Shamisi mentioned.
Waleid Gamal El-Dien, Chairman of SCZONE, commented: “This project enhances SCZONE’s ongoing efforts to support global supply chains by providing a competitive and integrated investment environment, underpinned by advanced infrastructure, and a unique geographic location, connecting three continents via one of the world’s most vital maritime routes.”
Ahmed Al Mutawa, Regional CEO of AD Ports Group, said: “KEZAD East Port Said is being built to attract investments, promote industrial and logistics growth, create jobs, increase exports, develop skills, and facilitate technological transfer. It will complement AD Ports Group’s growing business ecosystem in Egypt, and capitalise the natural assets of the Suez Canal area for Egypt, while supporting the country’s manufacturing sector, and increasing the ease of doing business in Egypt as a preferred gateway to global markets.”
Admiral Mohamed Ahmed Mahmoud, Vice Chairman of SCZONE for the Northern area, stated: “East Port Said Industrial Zone stands at the heart of this model due to its strategic location at the northern entrance of the Suez Canal and its direct connection to the modern East Port Said Port, a key hub in global trade, consistently ranked among the top international ports thanks to its operational readiness and advanced capabilities.”
In December 2024, AD Ports appointed Hassan Allam Construction to build the group’s new multipurpose cargo terminal in Safaga, on Egypt’s Red Sea coast.
During 2023, the ADX-listed group obtained a concession from Egypt’s Red Sea Ports Authority (RSPA) to build and operate the $200 million Safaga multipurpose terminal project.
