Egypt and the UAE’s AD Ports agree to establish a logistics zone
A 50-year concession agreement was signed by Egypt’s Suez Canal Economic Zone and the Abu Dhabi Ports Group of the United Arab Emirates to establish a 20-square-kilometer logistics and industrial zone east of Port Said, the general director of AD Ports announced on Sunday in a televised speech.
The first phase, which will be completed over three years and span 2.8 square kilometers, will involve feasibility studies and beginning development, for which AD Ports has contributed $120 million.
A 1.5-kilometer dock with the potential for a multipurpose freight terminal would be part of it, a cabinet statement said.
The arrangement represents the most recent in a string of AD Ports investments in Egypt’s logistics and maritime infrastructure.
Transmar, TCI, and Safina B.V. are Egyptian marine enterprises that AD Ports has bought within the past three years.
There are also long-term concessions that AD Ports has secured to build and run a multipurpose port in Safaga and a Ro-Ro terminal in Al Sokhna, as well as to develop and run cruise terminals at the Red Sea ports of Safaga, Hurghada, Al Sokhna, and Sharm El-Sheikh.
