AD Ports Group, a global leader in trade, transport, and logistics, has signed a 50-year renewable usufruct agreement with Egypt’s General Authority for the Suez Canal Economic Zone (SCZONE) to develop and operate a 20 km2 industrial and logistics park near Port Said on the Mediterranean coast, the company announced in a press release.
The project will be developed in phases, starting with Phase 1, which spans 2.8 km2. AD Ports Group will oversee the development, construction, financing, operation, and management of the zone. An estimated USD 120 mln will be invested over the next three years to fund market and technical studies, as well as Phase 1 development. Construction is expected to begin by the end of this year.
Key partners for the project include Hassan Allam Holding, one of the region’s leading construction and development groups, which will play a central role in anchoring Phase 1.
In a separate statement, Hassan Allam Holding confirmed the signing of a landmark Memorandum of Understanding (MoU) with AD Ports Group to co-develop and invest in the East Port Said Economic Zone. This agreement builds on their existing collaboration, including a December 2024 contract appointing Hassan Allam Construction to build AD Ports Group’s new multipurpose cargo terminal in Safaga on Egypt’s Red Sea coast.