UAE’s AD Ports to develop industrial zone in East Port Said

By Yomna Yasser On Nov 20, 2024

Egypt AD Ports — Prime Minister Moustafa Madbouly, Kamel El-Wazir, Deputy Prime Minister and Minister of Industry and Transport; and Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, witness the signing of MoU between SCZONE and AD Ports Group on Wednesday, November 20, 2024 (Egyptian Cabinet Photo)

Egypt signed a memorandum of understanding on Wednesday with Abu Dhabi’s AD Ports Group to establish, develop, and manage a 20-square-kilometre industrial zone in East Port Said under a usufruct rights agreement.

The MoU, signed between Suez Canal Economic Zone Authority (SCZone) and AD Ports, aims to create a world-class industrial hub. The new industrial zone will focus on cutting-edge industries, including renewable energy and advanced manufacturing. It will also benefit from the strategic location of East Port Said, leveraging its proximity to international shipping routes and its well-developed port infrastructure.

The signing ceremony was attended by Prime Minister Moustafa Madbouly, Kamel El-Wazir, Deputy Prime Minister and Minister of Industry and Transport; and Sultan Al Jaber, UAE Minister of Industry and Advanced Technology.

Minister Al Jaber said AD Ports’ role would focus on upgrading the industrial zone’s infrastructure to create a competitive, investor-friendly environment, aligning with Egypt’s economic growth ambitions.

Attribution: The Egyptian Cabinet