Latest news with #ADPorts
Arab News
17-05-2025
- Business
- Arab News
Envoy shares potential of Pakistan freight corridors, ports for regional connectivity at Dubai event
ISLAMABAD: Pakistan's Envoy to the United Arab Emirates (UAE) Ambassador Faisal Niaz Tirmizi has underscored Pakistan's freight corridors, port projects at a global logistics conference in Dubai, saying the South Asian has the potential to become a crucial hub for regional trade, transport and economic cooperation. Ambassador Tirmizi said this while delivering a keynote address at the 12th Global Logistics Alliance (GLA) conference in Dubai, according to Pakistan's Press Information Department (PID). The three-day event, running from May 15 till May 18, has brought together over 2,000 industry leaders, experts and potential partners from 130 countries to network, acquire knowledge and explore opportunities in the logistics sector. In his speech, Ambassador Tirmizi highlighted Pakistan's strategic location at the crossroads of South Asia, Central Asia and West Asia as well as the Middle East. 'Pakistan is poised to become a vital corridor of connectivity and cooperation across the region,' he said, lauding the UAE-based firms DP World and AD Ports for their investments in freight corridors and port development projects in Pakistan. The development comes as Pakistan strives to boost trade and overseas investment amid a gradually healing macroeconomic environment after a prolonged downturn that forced Islamabad to seek external financing from friendly nations and multiple loan programs with the International Monetary Fund (IMF). The Pakistani government has pursued aggressive economic diplomacy in recent years, signing several agreements and memoranda of understanding with countries in Central Asia and the Middle East. In her remarks, GLA President Grace Sun emphasized the importance of the event in creating new business synergies and accelerating global logistics collaboration. On the sidelines of the conference, Ambassador Tirmizi and Sun discussed the potential of organizing a regional networking conference in Pakistan under the GLA framework, with a focus on engagement from South and Central Asian logistics stakeholders, according to the PID. Ambassador Tirmizi reaffirmed Pakistan's commitment to working with international partners to develop 'smart, efficient, and sustainable logistics infrastructure,' particularly through transformational initiatives like the China-Pakistan Economic Corridor (CPEC).
Zawya
12-05-2025
- Business
- Zawya
Egypt: Breaking Down the SCZone-AD Ports Deal
The SCZone: Egypt's Gateway to Investment and Growth Recently, the Egyptian Cabinet announced a landmark agreement between the General Authority for the Suez Canal Economic Zone (SCZone) and Abu Dhabi Ports (AD Ports) to develop and manage the KEZAD logistics and industrial zone within East Port Said. However, the announcement sparked confusion among some of the Egyptian public, who mistakenly believed that AD Ports would be managing the Suez Canal itself. The agreement grants AD Ports a renewable 50-year usufruct to develop an integrated economic and logistics model within the proposed industrial zone in East Port Said on an area of 20 square kilometers (km 2). AD Ports will develop, construct, finance, operate, and manage the industrial and logistics zone of KEZAD in multiple phases. The focus in the near term will be on completing the first phase, which will cover an area of 2.8 km 2. A total investment of $120 million will be allocated for relevant market and technical studies, as well as for the development of the first phase over the next three years. Construction of the first phase is scheduled to begin by the end of 2025. The Egyptian state has prioritized the SCZone as a key driver of economic development, working to enhance its appeal to local and foreign investors by improving infrastructure, digital services, and creating a competitive, eco-friendly business environment. Established by presidential decree issued in August 2015, the SCZone, spans 455 million m 2, including six seaports and four industrial zones. As of December 2024, the zone hosts 14 industrial developers and provides 100,000 job opportunities. Revenues from the SCZone have nearly tripled, compared to fiscal year (FY) 2016/2017, reaching EGP 8.2 billion in FY2023/2024, 72% of which were dollar-denominated. Between 2022 and January 2025, the total investments in approved industrial, service, logistics projects amounted to approximately $8.081 billion across 255 projects. Moreover, the total number of companies established within the SCZone has reached 366. During the past three years, 130 factories have been established in the SCZone. Moreover, 120 factories are under construction in 2025. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
TimesLIVE
05-05-2025
- Business
- TimesLIVE
Egypt signs deal with UAE's AD Ports to set up logistics zone
Egypt's Suez Canal Economic Zone has signed a 50-year concession deal with the United Arab Emirates' Abu Dhabi Ports (AD Ports) Group to set up a 20km 2 logistics and industrial zone east of Port Said, AD Ports' managing director said in a televised address on Sunday. AD Ports has committed $120m (R2.20bn) for initial development and feasibility studies in the first phase, which covers an area of 2.8km 2 to be developed over three years. It will include a 1.5km quay, potentially featuring a multipurpose cargo terminal, according to a cabinet statement. The agreement is the latest in a series of investments by AD Ports in Egypt's maritime and logistics infrastructure. Over the last three years, AD Ports acquired Egyptian maritime companies Transmar, TCI, and Safina AD Ports has also signed long-term concessions to develop and operate cruise terminals at the Red Sea ports of Safaga, Hurghada, Al Sokhna and Sharm El-Sheikh, and to build and operate a multipurpose port in Safaga and a Ro-Ro terminal in Al Sokhna.
Egypt Independent
05-05-2025
- Business
- Egypt Independent
UAE giant to develop gigantic Suez Canal Zone in 50-year deal
The Chairman of the SCZone, Waleid Gamal al-Dien, commented on the signing of an agreement by the UAE's AD Ports Group with the General Authority for the Suez Canal Economic Zone to develop and operate the 20-square-kilometre KEZAD East Port Said Zone. During a telephone interview with TV host Lamis al-Hadidi on the 'Last Word' (Kalema Akhera) TV show, Gamal al-Dien said that KEZAD is part of the East Port Said Industrial Zone of SCZone. He noted that it is an area close to East Port Said Port and one of the integrated industrial areas within SCZone. Usufruct Term for AD Ports Gamal al-Dien revealed that the agreement is based on a 50-year usufruct, and that the AD Ports Group, as an industrial developer, must prepare the infrastructure to attract specific investments in specific sectors in the area, taking advantage of the proximity of the area under agreement to East Port Said. He continued, 'Thus, investments will benefit from direct and indirect tax incentives, in addition to international agreements to meet the needs of the local market.' The Chairman of the SCZone added, 'In addition, this area, and the economic zone in general, will be used as a platform for export to global markets.' 'According to the agreement, they will pay for the area's internal infrastructure investments. This will be implemented in phases, then linked to external facilities that connect it to the SCZone. The area will then be divided into various industries, including large and small factories, services, and ready-made factories,' he explained. Value of the usufruct agreement Regarding the value of what will be paid to the Egyptian government for the usufruct right, Gamal al-Dien said that, 'A percentage of 15 percent of the company's internal revenue. Therefore, the government receives a percentage of any amounts remitted to the company by investors.' Regarding the expected volume of investments flowing into the region through AD Ports, he said, 'There is no specific expected figure, but the 20 square kilometers is a large area. Therefore, there is no specific figure, but investments are estimated in the billions.' The AD Ports Group and SCZONE signed on Sunday a 50-year renewable usufruct agreement, to develop and operate a 20km2 industrial and logistics park near the Egyptian coastal city of Port Said on the Mediterranean Sea.
Business Insider
04-05-2025
- Business
- Business Insider
UAE expands footprint in Egypt with new $120 million port and logistics deal
Egypt's Suez Canal Economic Zone has signed a 50-year concession agreement with the UAE's Abu Dhabi Ports Group (AD Ports) to establish a 20-square-kilometre logistics and industrial hub east of Port Said. Egypt's Suez Canal Economic Zone signs a 50-year concession agreement with UAE's AD Ports. AD Ports to invest $120 million in initial development and feasibility studies for the first phase. The project includes a 1.5-kilometer quay and potential multipurpose cargo terminal. Egypt's Suez Canal Economic Zone has signed a 50-year concession agreement with the UAE's Abu Dhabi Ports Group (AD Ports) to establish a 20-square-kilometre logistics and industrial hub east of Port Said, the group's managing director announced in a televised address on Sunday. As part of the deal, AD Ports will invest $120 million in initial development and feasibility studies for the first phase, which spans 2.8 square kilometres and is set to be developed over the next three years, Reuters reported. The project will include a 1.5-kilometer quay, with plans for a potential multipurpose cargo terminal, according to a statement from Egypt's cabinet. This agreement marks the latest in a series of strategic investments by AD Ports to expand its presence in Egypt's maritime and logistics sectors. Over the past three years, the company has acquired several Egyptian maritime firms, including Transmar, TCI, and Safina B.V. Additionally, AD Ports has secured long-term concessions to develop and operate cruise terminals at key Red Sea ports, Safaga, Hurghada, Al Sokhna, and Sharm El-Sheikh, and to construct and manage a multipurpose port in Safaga and a Ro-Ro terminal in Al Sokhna. Gulf states deepen African ties Middle Eastern countries have been ramping up their interest in Africa through a wave of investments. Just last week, Business Insider Africa reported that nations from the region have either expressed interest in or closed deals totalling at least $6 billion in African energy assets in recent weeks, a clear sign of their growing appetite for investments on the continent. This heightened engagement aligns with a broader push by Gulf states to expand their energy footprint in Africa. According to an African Export-Import Bank report, bilateral trade between Africa and the UAE alone surged 38% over two years, reaching $86 billion by the end of 2023.
