AD Ports to develop industrial, logistics park near Port Said
AD Ports Group and the General Authority for Suez Canal Economic Zone (SCZONE), the integrated investment destination for linking industry and global trade, have signed a 50-year renewable usufruct agreement, to develop and operate a 20-sq-km 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, said a Wam news agency report.
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, UAE 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 sq km. 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 phase 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 Group CEO, AD Ports Group, said: 'Kezad East Port Said is a milestone that highlights the strong economic relations between the UAE and Egypt. 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.'
Waleid Gamal El Dien, Chairman of the Suez Canal Economic Zone, said: 'The launch of this project in the East Port Said Industrial Zone represents an important strategic step that reaffirms the depth of the strong fraternal relations and the growing strategic partnership between the Arab Republic of Egypt and the United Arab Emirates, as well as the prominent position held by SCZONE as a pivotal global trade hub for industrial and logistics activities. 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.'
Gamal El Dien added: 'Over the past few years, the SCZONE has become a cornerstone for the investment expansion plans of many leading regional and international companies, thanks to its integrated model of combining industrial zones and affiliated seaports. Among these is the KEZAD East Port Said Industrial and Logistics Zone, which seamlessly connects with East Port Said Port, a key strategic location on the Mediterranean Sea. The port features deep berths for large vessels, efficient operations, and excellent connectivity to advanced road and transportation networks. The expertise of a global organisation such as AD Ports Group will help SCZONE achieve its goals.'
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.'
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.
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