AD Ports Group inks agreement with Egyptian govt to explore building first-of-its-kind industrial zone in East Port Said
AD Ports Group, a leading facilitator of global trade, logistics and industry, has announced the signing of a framework agreement with the Egyptian government to explore building, operating and transferring an economic zone in East Port Said.
Under the framework agreement, AD Ports Group and the Suez Canal Economic Zone (SC Zone) will explore the building, operation and transfer (BOT) of the East Port Said Industrial Zone near the Mediterranean entrance to the Suez Canal, the first of its kind to serve the Mediterranean region.
The agreement follows a preliminary agreement signed with SC Zone in March 2023.
The UAE and Egypt enjoy a close and fruitful relationship, and the signing of the framework agreement will further enhance the ties between both countries.
Over the last three years, AD Ports Group has entered the Egyptian market with the acquisition of Egyptian maritime companies Transmar, TCI and Safina B.V. The Group has also signed long-term concessions to develop and operate cruise terminals at the Red Sea ports of Safaga, Hurghada, Al Sokhna and Sharm El-Sheikh, and to build and operate a multipurpose port in Safaga and a RoRo automotive terminal in Al Sokhna, highlighted a release.
Source : Our Correspondent