Egypt, UAE Sign $120 Million Deal for New Port Development

Egypt’s Suez Canal Economic Zone (SCZone) and the UAE’s Abu Dhabi Ports Group have signed a 50-year agreement to develop a 20-square-kilometer industrial and logistics hub, KIZAD East Port Said, east of Port Said. The first phase of the project will cover 2.8 square kilometers, with AD Ports investing $120 million in initial development and feasibility studies, aiming to begin construction by the end of 2025. This initiative is designed to leverage Egypt’s strategic position at the entrance to the Suez Canal, enhancing its role as a key trade link between East and West and attracting both foreign and domestic investment. The project will feature a 1.5-kilometer quay and may include a multipurpose cargo terminal, integrating with one of the Mediterranean’s most advanced ports. Egyptian and Emirati officials emphasized that the deal reflects deepening economic ties and a shared vision for regional trade growth. The partnership is part of broader Gulf-state efforts to expand their investments in Africa’s energy and logistics sectors.