SCZONE, AD Ports sign 50-year deal to develop KEZAD East Port Said

Updated 5/5/2025 7:35:00 AM

Arab Finance: The General Authority of Suez Canal Economic Zone (SCZONE) inked a 50-year renewable usufruct agreement with AD Ports Group to develop the KEZAD East Port Said zone, according to a statement.

In the presence of Prime Minister Mostafa Madbouly, the deal was signed by the Regional CEO of AD Ports Ahmed Al Mutawa and the Vice Chairman of SCZONE for the Northern area Mohamed Ahmed Mahmoud.

The agreement aims to develop and operate a 20-square-kilometer industrial and logistics park near the Egyptian coastal city of Port Said on the Mediterranean Sea.

Under the joint deal, the UAE-based group AD Ports will develop, construct, finance, operate, and manage the industrial and logistics zone in phases.

An estimated total investment of $120 million will be dedicated to market for the project as well as technical studies.

Phase 1 will initially cover an area of 2.8 square kilometers and will be developed over the next three years, with construction expected to start by the end of 2025. It will also include a 1.5-kilometer-long quay wall that could eventually accommodate a multipurpose cargo terminal.

Major clients, including Emirates Global Aluminium (EGA) and the local conglomerate Hassan Allam, will support the development of Phase 1, as MoUs were signed in this regards during the ceremony held in Cairo.

Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports, said: “This infrastructure investment will provide a long-term source of economic growth for Egypt, while enhancing the Suez Canal role in promoting and supporting the East-West trade corridor.”

Waleid Gamal El Dien, Chairman of the SCZONE, commented: “This project enhances SCZONE’s ongoing efforts to support global supply chains by providing a competitive and integrated investment environment, underpinned by advanced infrastructure, and a unique geographic location, connecting three continents via one of the world’s most vital maritime routes.”

Admiral Mohamed Ahmed Mahmoud, Vice Chairman of SCZONE for the Northern area, noted: “The integration with West Port Said Port enhances its readiness to offer comprehensive and attractive logistical solutions for investors.”

Mahmoud indicated: “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.”