AD Ports Group and the General Authority for the Suez Canal Economic Zone (SCZONE) have signed a 50-year renewable usufruct agreement to develop and operate a 20 kilometres (km²) industrial and logistics park near Port Said on the Mediterranean coast.
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 lead the phased development, construction, and operation of the 20 km² zone, beginning with a 2.8 km² Phase 1.
Backed by a $120 million investment over three years, Phase 1 will reportedly cover market studies and initial development, with construction set to begin by year-end.
Key partners, including leading regional developer Hassan Allam Holding, are expected to anchor the first phase.
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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.”
Admiral Mohamed Ahmed Mahmoud, Vice Chairman of SCZONE for the Northern area, stated: “We are working on developing an integrated model that combines industry, maritime transport, and logistics services within a flexible and investment-friendly regulatory environment.”
He highlighted the East Port Said Industrial Zone’s “strategic location at the northern entrance of the Suez Canal” and its connection to “the modern East Port Said Port, a key hub in global trade.”
