AD Ports Group, a global enabler of trade, transport, logistics and industry, 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 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 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. 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 km2. 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 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. 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. The Group in 2023 obtained a concession from Egypt’s Red Sea Ports Authority (RSPA) to build and operate the USD 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. AD Ports Group is an integrated trade, transport, logistics and economic zones group with a presence in more than 50 countries. Based in Abu Dhabi, the Group has a maritime fleet of 247 vessels, 34 terminals, in addition to an economic and industrial land bank of over 550 km2, the largest integrated trade, logistics and industrial business grouping of its kind in the Middle East, highlighted a release. Source : Our Correspondent
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