Abu Dhabi Ports to develop major logistics hub in Egypt

Abu Dhabi Ports has signed a 50-year concession agreement with Egypt’s Suez Canal Economic Zone (SCZONE) to develop a 20 sq.km., logistics and industrial hub, said Waleid Gamal El Dien, Chairman, SCZONE. Investment worth US$120 million will support initial development and feasibility studies for the first phase, set for completion over the next three years. “The launch of this project in the East Port Said Industrial Zone reaffirms the depth of the fraternal relations and the growing partnership between the Arab Republic of Egypt and the UAE as well as the position held by SCZONE as a pivotal global trade hub for industrial and logistics activities. This project enhances SCZONE’s efforts to support global supply chains by providing an integrated investment environment, underpinned by advanced infrastructure, and a unique geographic location, connecting three continents via one of the world’s most vital maritime routes,” El Dien added.