AD Ports Group and SCZONE sign agreement to develop KEZAD East Port Said Zone
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.
AD Ports Group and the General Authority for Suez Canal Economic Zone (SCZONE), the integrated investment destination for linking industry and global trade, today 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.
The agreement was signed by Ahmed Al Mutawa, Regional CEO of AD Ports Group, and Admiral Mohamed Ahmed Mahmoud, Vice Chairman of SCZONE for the Northern area.
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.
Ahmed Al Mutawa, Regional CEO of AD Ports Group, said:
“KEZAD East Port Said is being built to attract investments, promote industrial and logistics growth, create jobs, increase exports, develop skills, and facilitate technological transfer. It will complement AD Ports Group’s growing business ecosystem in Egypt, and capitalise the natural assets of the Suez Canal area for Egypt, while supporting the country’s manufacturing sector, and increasing the ease of doing business in Egypt as a preferred gateway to global markets.”
Admiral Mohamed Ahmed Mahmoud, Vice Chairman of SCZONE for the Northern area, said:
“We are working on developing an integrated model that combines industry, maritime transport, and logistics services within a flexible and investment-friendly regulatory environment. East Port Said Industrial Zone stands at the heart of this model due to its strategic location at the northern entrance of the Suez Canal and its direct connection to the modern East Port Said Port, a key hub in global trade, consistently ranked among the top international ports thanks to its operational readiness and advanced capabilities. Furthermore, the integration with West Port Said Port enhances its readiness to offer comprehensive and attractive logistical solutions for investors. Therefore, this project represents a qualitative leap in the development of the northern part of SCZONE, not only in terms of the scale of anticipated investments but also in the advanced industrial and logistical activities to be implemented.”
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.
