MoU to explore building the first-of-its-kind Industrial Zone in East Port Said
AD Ports Group has announced the signing of a framework agreement with the Egyptian government to explore building, operating and transferring an economic zone in East Port Said.
The signing took place at the Egyptian Cabinet headquarters in the New Administrative Capital in Cairo, in the presence of HE Dr Mostafa Madbouly, Egypt’s Prime Minister, HE Dr Sultan Al Jaber, the UAE Minister of Industry and Advanced Technology, HE Lieutenant General Engineer Kamel Al Wazir, Egyptian Minister of Industry and Transport, and HE Mariam Al Kaabi, UAE Ambassador to the Arab Republic of Egypt.
The signing was conducted by Ahmed Al Mutawa, Regional CEO, AD Ports Group, and Walid Gamal El Din, Chairman, Suez Canal Economic Zone.
Framework Agreement
Under the framework agreement, AD Ports Group and the Suez Canal Economic Zone (SC Zone) will explore the building, operation, and transfer (BOT) of the East Port Said Industrial Zone near the Mediterranean entrance to the Suez Canal, the first of its kind to serve the Mediterranean region.
“Today’s signing of the framework agreement with SCZone would enable strategic infrastructure projects in the Mediterranean Sea region that would leverage Egypt’s return from global trade flows, driving economic growth and advancing the Group’s portfolio of value-added investments,’’ commented Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group.
