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Egypt and AD Ports strike a deal for the new economic hub in East Port Said

Posted on November 22, 2024 |

AD Ports has signed an agreement with the Egyptian government to explore creating an economic zone in East Port Said.

The agreement includes collaboration with the Suez Canal Economic Zone (SCZone) to develop the East Port Said Industrial Zone, which will serve the Mediterranean region.

The new industrial zone will be the first of its kind, located near the Mediterranean entrance to the Suez Canal.

This deal follows an earlier agreement with SCZone made in March 2023.

The project aims to boost Egypt’s economic growth by enhancing its role in global trade.

AD Ports has secured long-term rights to develop and manage cruise terminals at Safaga, Hurghada, Al Sokhna, and Sharm El-Sheikh.

The group also plans to build a multipurpose port in Safaga and an automotive terminal in Al Sokhna.