AD Ports Group and the General Authority for Suez Canal Economic Zone (SCZONE) 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 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 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, in Cairo, Egypt.
AD Ports Group will develop, construct, finance, operate, and manage the industrial and logistics zone in phases, with a focus on the first phase to start with an area covering a total of 2.8 km². An estimated total investment of US$120 million will be allocated to market and technical studies as well as to the first phase 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.
Captain Mohamed Juma Al Shamisi, Managing Director and CEO of AD Ports Group, said: “This infrastructure investment will provide a long-term source of economic growth for Egypt, while enhancing the Suez Canal’s role in promoting and supporting the East-West trade corridor.”
Waleid Gamal El Dien, Chairman of the Suez Canal Economic Zone, noted: “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.”
Admiral Mohamed Ahmed Mahmoud, Vice Chairman of SCZONE for the Northern area, stated: “We are working on developing an integrated model that combines industry, maritime transport, and logistics services within a flexible and investment-friendly regulatory environment.”
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.
In December 2024, AD Ports Group appointed Hassan Allam Construction to build AD Ports Group’s new multipurpose cargo terminal in Safaga, on Egypt’s Red Sea coast.
In 2023, the Group obtained a concession from Egypt’s Red Sea Ports Authority (RSPA) to build and operate the US$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.
