The United Arab Emirates’ AD Ports Group has signed a 50-year concession agreement with Egypt’s Suez Canal Economic Zone (SCZONE) to develop a major industrial and logistics zone east of Port Said on the Mediterranean coast.
Under the deal, the Abu Dhabi-based ports and logistics giant will plan, finance, build, operate, and manage a 20-square-kilometre zone in multiple phases.
In the first phase, AD Ports has committed $120 million for feasibility studies and initial development, covering 2.8 square kilometres over a three-year period.
AD Ports confirmed that several key clients and partners, including leading regional construction firm Hassan Allam Holding, will participate in the initial phase.
Hassan Allam is also responsible for the group’s multipurpose terminal project in Safaga on Egypt’s Red Sea coast.
AD Ports Group CEO Mohamed Juma Al Shamisi hailed the agreement as a significant milestone in UAE-Egypt relations.
“This infrastructure investment will deliver long-term economic benefits for Egypt and further strengthen the strategic role of the Suez Canal in facilitating East-West trade,” he said.
AD Ports, which operates in more than 50 countries, manages 34 terminals and a fleet of nearly 250 vessels.
The group has expanded aggressively in Egypt since 2022, acquiring regional shipping company Transmar, terminal operator TCI, and maritime services provider Safina.
Construction on the new zone is expected to begin by late 2025.
