The UAE-based port and logistics group AD Ports has signed with the Egyptian General Authority for Suez Canal Economic Zone a usufruct contract with a duration of 50 renewable years to develop and manage a logistics park and 20 square kilometers industrial area near the port of Port Said. Construction of the new KEZAD East Port Said Industrial and Logistics Zone will be implemented in two phases, with the first being It will initially focus on an area of 2.8 kilometers which could include the construction of a quay of 1.5 linear kilometers for a multipurpose terminal, with works expected to start by the end of this year. The expected investment over the next three years it is $120 million.

In addition to the usufruct agreement signed yesterday in Cairo, AD Ports signed a memorandum of understanding with the Egyptian group of engineering, construction and investment Hassan Allam Holding focused on development and investment in the area and possible other projects to be developed jointly.

With the new agreements, the emirantense group consolidates its presence in the Egyptian market after having acquired control of the Egyptian IACC in 2022, after having obtained in 2023 the concession to build and operate a terminal multipurpose in the port of Safaga and signed preliminary agreements for develop and operate a cruise terminal and a ro-ro terminal in the port of Sokhna and after signing contracts last year to operate the passenger terminals of the ports of Hurghada, Safaga and Sharm El Sheikh ( of 4 July 2022, 20 March and 27 December 2023 and 9 January 2024).