AD Ports Group, and the General Authority for Suez Canal Economic Zone (SCZONE), the integrated investment destination for linking industry and global trade, signed a 50-year renewable usufruct agreement, to develop and operate a 20 km2 industrial and logistics park near the Egyptian coastal city of Port Said on the Mediterranean Sea.
The East Port Said Industrial Zone provides an opportunity to turn a unique location on the Mediterranean Sea into a key hub for international trade and investments serving the East-West trade routes, right at the entrance of the Suez Canal.
The agreement to develop KEZAD East Port Said Industrial and Logistics Zone was signed in Cairo, and witnessed by Egyptian Prime Minister, Dr. Mostafa Madbouly, in the presence of Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, Mohamed Hassan Alsuwaidi, UAE Minister of Investment, Lieutenant General Engineer Kamel Al Wazir, Deputy Prime Minister for Industrial Affairs Egyptian Minister of Industry and Transport, Mariam Al Kaabi, Ambassador of the UAE to Egypt, Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group and Mr. Waleid Gamal El-Dien, Chairman of SCZONE.
The agreement was signed by Ahmed Al Mutawa, Regional CEO of AD Ports Group, and Admiral Mohamed Ahmed Mahmoud, Vice Chairman of SCZONE for the Northern area.
AD Ports Group will develop, construct, finance, operate, and manage the industrial and logistics zone in phases, with a focus on phase 1 to start with, an area covering a total of 2.8 km2. An estimated total investment of $120 million will be allocated to market and technical studies as well as to phase 1 development over the next three years. Construction on the initial 2.8 km2 Phase 1 is expected to start by the end of this year.
The development of Phase 1 will be anchored by key potential clients and partners, including one of the region’s foremost construction and development groups, Hassan Allam Holding.
In addition, AD Ports Group and Hassan Allam Holding, which is one of the Group’s development partners in Egypt, signed a memorandum of understanding (MoU) to develop and invest in the industrial zone and explore other projects.
AD Ports Group in December 2024 appointed Hassan Allam Construction, the construction arm of Hassan Allam Holding and one of the premier engineering and construction companies in the region, to build AD Ports Group’s new multipurpose cargo terminal in Safaga, on Egypt’s Red Sea coast.
The Group in 2023 obtained a concession from Egypt’s Red Sea Ports Authority (RSPA) to build and operate the USD 200 million Safaga multipurpose terminal project, which will be the first internationally operated multipurpose cargo terminal in Upper Egypt.
Since 2022, AD Ports Group has invested significantly in Egypt, acquiring Transmar, a regional shipping company, TCI, a port operator and stevedoring company, and in 2024, Safina B.V., a provider of maritime agency and cargo services. AD Ports Group has also secured long-term concessions to develop and operate three cruise terminals at the Red Sea ports of Safaga, Hurghada, and Sharm El Sheikh. In addition, AD Ports Group has initialled agreements for the right to develop and operate a cruise terminal and a Ro-Ro terminal in Ain Sokhna.
The East Port Said project aligns with long-standing ties between the UAE and Egypt, and the objectives of leadership in both countries to support the commercial and industrial sectors and attract high-quality investments. This project also supports the global trend of establishing regional manufacturing centres, thus shortening and sustaining global supply chains, and enhancing connectivity with major global markets.
To Promote your Products and Services on SaudiGulf Projects, please visit "Advertise" Section
