AD Ports to Build Special Economic Zone in Egypt at the Entrance to the Suez Canal

UAE-based port and logistics operator AD Ports has announced the signing of a 50-year usufruct agreement with the Suez Canal Economic Zone Authority, granting the company the right to develop and operate an industrial and logistics park near Egypt’s Port Said, located at the Mediterranean entrance to the Suez Canal. According to AD Ports, the industrial and logistics park will cover a total area of 20 square kilometers and will be developed in phases. Construction of the first phase, covering 2.8 square kilometers, is scheduled to begin this year, with an initial investment estimated at USD 120 million. Commenting on the agreement, AD Ports Group CEO Mohamed Juma Al Shamisi said the strategically located project at Port Said will “enhance the Suez Canal’s role in advancing and supporting the East-West trade corridor.” AD Ports has been actively investing in Egypt since 2022. Over this period, the group has acquired Egyptian shipping company Transmar, terminal operator TCI, and agency and freight forwarding company Safina B.V. It has also secured long-term concessions to build and operate three cruise terminals in the ports of Safaga, Hurghada, and Sharm El-Sheikh on the Red Sea, as well as Ain Sokhna on the Mediterranean Sea.