In order to establish a 20 square kilometer logistics and industrial zone east of Port, AD Ports Group has inked a 50-year concession agreement with Egypt’s Suez Canal Economic Zone. The industrial and logistics zone will be developed, constructed, financed, operated, and managed in phases by AD Ports Group, as per the agreement.
In the first phase, which will take place over three years and encompass an area of 2.8 square kilometers, the business has committed $120 million for feasibility studies and starting development. Key potential customers and partners, such as Hassan Allam Holding, one of the leading construction and development companies in the area, will support the first phase’s development, AD Ports stated, adding that it anticipates the build-out to begin by the end of this year. The new multipurpose terminal built by AD Ports in Safaga, on the Red Sea coast of Egypt, is likewise under Hassan Allam’s direction.
With operations in more than 50 nations, AD Ports owns and operates 34 terminals, about 250 ships, and more than 550 square kilometers of industrial and commercial land. Since 2022, the business has made significant investments in Egypt, purchasing a marine agency and cargo services provider, Safina, a port operator and stevedoring company, TCI, and a regional shipping player, Transmar.
