Transport AD Ports explores building new economic zone in Egypt By Pramod Kumar November 21, 2024, 2:04 PM AD Ports Group The agreement between AD Ports and SC Zone in Egypt will enable strategic infrastructure projects in the Mediterranean Sea region AD Ports Group is exploring opportunities with the Egyptian government to build, operate and transfer an economic zone in East Port Said. As part of a framework agreement, the UAE port operator and the Suez Canal Economic Zone (SC Zone) will explore the building, operation, and transfer of the East Port Said Industrial Zone near the Mediterranean entrance to the Suez Canal. The agreement follows a preliminary pact signed with SC Zone in March 2023. Mohamed Juma Al Shamisi, Group CEO, said the agreement with SC Zone will enable strategic infrastructure projects in the Mediterranean Sea region to leverage Egypt’s return from global trade flows and drive economic growth. AD Ports quarterly profit rises 11% to $121m More Turkish companies open in UAE after trade deal AD Ports digital arm buys customs systems firm In the last three years, AD Ports has entered the Egyptian market by acquiring local maritime companies such as Transmar, TCI and Safina. In January AD Ports signed an agreement to build, develop, operate and maintain terminals for passengers and cruise lines at the Egyptian Red Sea ports of Hurghada, Safaga and Sharm El-Sheikh. In December 2023 the company inked a concession agreement with the Red Sea Ports Authority to develop and operate a multi-purpose terminal at Safaga port in Egypt. Abu Dhabi-based AD Ports has a maritime fleet of 254 vessels, 33 port terminals and an industrial land bank of 550 sq km.
