Latest news with #AbuDhabiPortsGroup
Khaleej Times
2 days ago
- Business
- Khaleej Times
Eid Al Adha in UAE: Hundreds of workers celebrate; win car, flight tickets
Hundreds of workers celebrated Eid Al Adha with various activities, competitions, and raffle draws winning valuable prize, including a car and flight tickets. Held under the slogan ' Eid with Our Workers: Joy and Happiness', the activities were organised by the Ministry of Human Resources and Emiratisation (MoHRE) at 10 locations across the UAE. 'Celebrating and honouring workers during holidays and national occasions is an integral part of MoHRE's sustainable strategy", said the ministry, adding: '(Our) objective is to bring joy to workers and enhance their wellbeing, quality of life, and psychological and social stability, while fostering a sense of belonging to the community and motivating them to give their best.' Stay up to date with the latest news. Follow KT on WhatsApp Channels. Eid Al Adha events were held at workers' compounds in Jebel Ali, Al Quoz, and Muhaisnah in Dubai; Mussafah and Hameem Worker City in Abu Dhabi; Al Sajaa in Sharjah; the Industrial Areas in Ajman and Umm Al Quwain; RAKEZ in Ras Al Khaimah; and Al Hail Industrial Area in Fujairah. Partners from the government and private sectors took part in the celebrations, including the Ministry of Interior; Federal Authority for Identity, Citizenship, Customs, and Ports Security; the General Commands of Abu Dhabi, Dubai, and Sharjah Police; and municipalities across the country. Partners also include Abu Dhabi Ports Group; the General Directorate of Residency and Foreigners Affairs in Dubai; Abu Dhabi Civil Defence Authority; Dubai Civil Defence; the Permanent Committee for Labour Affairs in the Emirate of Dubai; Dubai's Roads and Transport Authority (RTA); the Islamic Affairs and Charitable Activities Department in Dubai; Sharjah's Labour Standards Development Authority; the National Ambulance; Dubai Corporation for Ambulance Services; and Ras Al Khaimah Economic Zone (RAKEZ). MoHRE underscored the Eid celebrations 'highlight the significant role that workers in the UAE play in driving the country's development, supporting its ambitious and pioneering economic vision, and cementing its status as a premier global destination for living, investing, and working.'
Egypt Independent
07-05-2025
- Business
- Egypt Independent
Egypt denies granting SC navigation rights to Abu Dhabi Ports Group
The Cabinet's media center denied on Tuesday reports that navigation rights in the Suez Canal had been granted to Abu Dhabi Ports Group under a 50-year usufruct agreement on the back of the signing of a deal to develop an industrial zone between the General Authority for the Suez Canal Economic Zone (SCZone) and the group. A video clip posted by the center on social media platforms made clear that the signed agreement aims at developing Kizad East Port Said and has nothing to do with navigation rights at the international waterway that falls under the administration of the Suez Canal Authority and not the SCZone. The agreement does not undermine in any way Egypt's sovereignty over the Suez Canal or its assets, the center said, stressing that the canal is protected under Article 43 of the Egyptian Constitution, which mandates the state to preserve and develop it as a sovereign international waterway. The Kizad project covers an area of 20 million square meters within the East Port Said industrial zone, which spans 64 million square meters in total. The development does not include the East Port Said Port itself. The agreement is a usufruct contract under Law No. 83 of 2002 governing special economic zones, the center said, noting that the signed deal is a standard framework used in the agreements signed by SCZone with industrial developers and investors. Under the deal, Abu Dhabi Ports Group will develop and operate a logistics and service-based industrial zone to attract investments in targeted sectors, and support industrial localization, technology transfer, job creation, and state revenues from taxes, customs, and added value, according to the Cabinet's media center. The project also aims to enhance transit trade, support global supply chains, and boost Egyptian exports, it said.
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.
See - Sada Elbalad
04-05-2025
- Business
- See - Sada Elbalad
AD Ports to Establish Logistics, Industrial Zone in Port Said
Taarek Refaat Egypt and the UAE's Abu Dhabi Ports Group signed an agreement on Sunday with the General Authority for the Suez Canal Economic Zone (SCZone) to establish a logistics and industrial zone east of the Egyptian city of Port Said. The project, named Kizad Port Said, covers an area of 20 square kilometers. The AD Ports Group includes 34 ports and marine terminals and more than 550 km of industrial and logistics zones. During the signing, Prime Minister Mostafa Madbouly noted that the volume of trade between Egypt and the UAE reached approximately $6 billion last year, stressing that this cooperation between the SCZone and Abu Dhabi Ports Group affirms mutual trust and a shared vision for a prosperous economic future. During his speech, Madbouly noted that the ambitious Kizad East Port Said project, which we are launching today, will be an industrial platform spanning an area of 20 million square meters, serving trade between East and West and enhancing manufacturing and logistics services in this distinguished location. This will draw on Abu Dhabi Ports Group's expertise in developing and managing economic zones and the distinguished capabilities of the Suez Canal Economic Zone. On his part, Mohamed Juma Al Shamisi, CEO of Abu Dhabi Ports Group noted that "the signing of the agreement comes amidst rapidly changing geopolitical circumstances that are reshaping economic and industrial alliances worldwide," emphasizing his confidence that "these changes provide a strategic opportunity to leverage Egypt's unique location as a trade link between East and West." read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Egypt confirms denial of airspace access to US B-52 bombers Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Videos & Features Bouchra Dahlab Crowned Miss Arab World 2025 .. Reem Ganzoury Wins Miss Arab Africa Title (VIDEO) Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple
Reuters
04-05-2025
- Business
- Reuters
Egypt signs deal with UAE's AD Ports to set up logistics zone
CAIRO, May 4 (Reuters) - Egypt's Suez Canal Economic Zone signed a 50-year concession deal with the United Arab Emirates' Abu Dhabi Ports Group to set up a 20-square km logistics and industrial zone east of Port Said, AD Ports managing director said in a televised address on Sunday. AD Ports has committed $120 million for initial development and feasibility studies in the first phase, which covers an area of 2.8 square km to be developed over three years. here. It will include a 1.5-km 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 B.V. 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.
