AD Ports Group announced the signing of a framework agreement with the Egyptian government to explore the Build-Operate-Transfer (BOT) process of an economic zone in East Port Said.
The signing ceremony took place at the Egyptian Cabinet headquarters in the New Administrative Capital, Cairo, attended by Dr. Mostafa Madbouly, Egypt’s Prime Minister; Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology; Lieutenant General Engineer Kamel Al-Wazir, Egyptian Minister of Industry and Transport; and Mariam Al Kaabi, UAE Ambassador to Egypt.
The agreement was signed by Ahmed Al Mutawa, Regional CEO of AD Ports Group, and Walid Gamal El-Din, Chairman of the Suez Canal Economic Zone (SC Zone).
Under the agreement, AD Ports Group and the SC Zone will collaborate on establishing and managing the East Port Said Industrial Zone, strategically located near the Mediterranean entrance to the Suez Canal.
This zone, the first of its kind in the region, is envisioned to cater to the Mediterranean market. The framework builds on a preliminary agreement signed with SC Zone in March 2023.
“AD Ports Group partners with governments for the long-term development of their economies, inspired by the vision of our wise leadership. We are working with the Egyptian government to bring growth, jobs and prosperity to the people of Egypt. Today’s signing of the framework agreement with SCZone would enable strategic infrastructure projects in the Mediterranean Sea region that would leverage Egypt’s return from global trade flows, driving economic growth and advancing the Group’s portfolio of value-added investments,” stated Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group.
The UAE and Egypt share strong and cooperative relations, and this agreement is expected to strengthen their bilateral ties further. Over the past three years, AD Ports Group has significantly expanded its presence in Egypt, acquiring Egyptian maritime companies Transmar, TCI, and Safina B.V.
The Group has also secured long-term concessions to develop and operate cruise terminals at the Red Sea ports of Safaga, Hurghada, Al Sokhna, and Sharm El-Sheikh. Additionally, it is developing a multipurpose port in Safaga and a Ro-Ro automotive terminal in Al Sokhna.
