Suez Canal Sells Half-Century of Sovereignty to UAE’s Abu Dhabi Ports Group

Egypt hands over the keys to its crown jewel—a 50-year concession that’ll make Dubai’s ports group richer than Pharaoh’s tomb.

Global shipping chokehold now under Emirati control—just in time for the next supply chain crisis.

Bonus finance jab: At least someone’s getting long-term infrastructure investments... just not the Egyptians.

The first phase, which will be developed over the next three years and span 228 square kilometers, will require AD Ports to invest $120 million in feasibility studies and initial development as part of the agreement.

The project will feature a 1.5-kilometer quay and plans for a potential multipurpose cargo terminal.

AD Ports is making the latest strategic investments to expand its footprint in Egypt’s logistics and maritime industries. Transmar, TCI, and Safina B are among the Egyptian maritime companies that the firm has acquired in the past three years.

AD Ports has secured long-term concessions to build and operate a multipurpose port in Safaga and a Ro-Ro terminal in Al Sokhna, as well as to develop and operate cruise terminals at key Red Sea ports, including Safaga, Hurghada, Al Sokhna, and Sharm el-Sheikh, Middle Eastern nations have exhibited a growing interest in Africa.

Countries in the region have displayed an increasing appetite for investments on the continent by expressing interest in or concluding deals totaling at least $6 billion in African energy assets in recent weeks. This heightened involvement aligns with Gulf states’ broader initiative to enhance their African energy presence

Bilateral trade between Africa and the United Arab Emirates ROSE by 38% in just two years, reaching $86 billion by the end of 2023, according to a report by the African Export-Import Bank.