Egypt and UAE partner for East Port Said zone
AD Ports Group has signed a framework agreement with the Egyptian government to explore the development of an economic zone in East Port Said, near the Mediterranean entrance to the Suez Canal.
Using a build, operate, and transfer (BOT) model, the project aims to create the first industrial zone of its kind in the Mediterranean region, leveraging Egypt's strategic trade position. It builds on previous collaborations, including a 2023 preliminary agreement with the Suez Canal Economic Zone (SC Zone) and reflects strong UAE-Egypt ties.
AD Ports Group has expanded its presence in Egypt with acquisitions and long-term concessions in key maritime and logistics projects, including cruise terminals and a multipurpose port in Safaga. The initiative aligns with AD Ports Group's strategy to drive economic growth, create jobs, and enhance its global investment portfolio. (pb)