Cairo: 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 aims to create a world-class industrial hub and was signed between the Suez Canal Economic Zone Authority (SCZone) and AD Ports.
According to State Information Service Egypt, the new industrial zone will focus on cutting-edge industries, including renewable energy and advanced manufacturing. The zone is expected to 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 several key figures, including 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 stated that 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.