Prime minister Dr. Mostafa Madbouly has witnessed signing of an agreement for developing “Kezad East Port Said” between Suez Canal Economic Zone general authority and Abu Dhabi Ports group (ADX: ADPORTS) with renewable right of usufruct of 50years; for operating and developing an industrial and logistic Zone on an area of 20Km2 near Port Said city overlooking the Mediterranean.
The agreement was signed by Mr. Ahmed ElMotawa’: ADPORTS regional CEO and admiral. Mohamed Ahmed Mahmoud, deputy head of SCEZ northern region.
Under the agreement ADPORTS will establish, develop, finance, manage and operate the logistic industrial region through several phases; concentrating on accomplishment of phase one during the coming period, and which will be on an area of 2.8 km2, with allocated total investment of 120million US dollars for related marketing and technical studies. In addition to developing first phase during the coming three years, where construction works of first phase will start by the end of 2025, and will include the establishment of a berth of length 1.5 km, which may follow by a shipping multipurpose terminal.
Head of SCEZ has also pointed out that the zone during the past years has succeeded in becoming a fulcrum for investment expansion plans for a number of big regional and international companies, because of the existing vision to integrate between industrial regions and its affiliated maritime ports ; including “Kezad East Port Said “ that integrates directly with East port Said port, one of most important hub ports on the Mediterranean; because of its high readiness for operation and its suitable depth to receive giant vessels and its linkage with advanced transport systems and road networks, adding that no doubt that ADPORTS global experience will help us achieving our goals in this respect.
On the other hand, Mr. Ahmed ElMotawa’ ADPORTS CEO said that establishment of “Kezad East Port Said “will constitute a vital feeder for attracting investments and enhancing logistic and industrial growth and will create new job opportunities, increase exports’ volume, develop local efficiencies and skills and rapid technology transfer. Adding that this zone will enhance and reinforce developmental works system of ADPORTS in Egypt. And will employ natural resources of Suez Canal Zone to develop manufacture and business sectors and facilitates making out of Egypt a main gateway for global markets
Worth noting that ADPORTS has made with Hassan Allam holding company, one of the Groups’ partners for development in Egypt, a memorandum of understanding to debate means of cooperation in more ports’ projects and industrial regions and exploring joint job opportunities in logistics services sector in East port Said and other regions in Egypt.
