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Egypt’s Suez Canal and Abu Dhabi Ports Group Sign 50-Year Logistics Hub Agreement
Egypt’s Suez Canal and Abu Dhabi Ports Group Sign 50-Year Logistics Hub Agreement
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AD Ports Group and Egypt’s Suez Canal Economic Zone have inked a half-century concession to develop a 20-square-kilometer industrial and logistics hub NEAR Port Said. The Emirati firm will invest $120 million in feasibility studies and initial infrastructure for the first phase, covering 228 square kilometers.
The project includes a 1.5-kilometer quay and plans for a multipurpose cargo terminal, marking AD Ports’ latest expansion into North African logistics. Bilateral trade between the UAE and Africa surged 38% over two years, hitting $86 billion by 2023—a tailwind for regional infrastructure development.
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