Prime Minister Moustafa Madbouly, Kamel El-Wazir, Deputy Prime Minister and Minister of Industry and Transport; and Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, witness the signing of MoU between SCZONE and AD Ports Group on Wednesday, November 20, 2024

Egypt signed a memorandum of understanding on Wednesday with Abu Dhabi’s AD Ports Group to establish, develop, and manage a 20-square-kilometre industrial zone in East Port Said under a usufruct rights agreement.

The MoU, signed between Suez Canal Economic Zone Authority (SCZone) and AD Ports, aims to create a world-class industrial hub.

The new industrial zone will focus on cutting-edge industries, including renewable energy and advanced manufacturing.

It will also benefit from the strategic location of East Port Said, leveraging its proximity to international shipping routes and its well-developed port infrastructure.

The signing ceremony was attended by Prime Minister Moustafa Madbouly, Kamel El-Wazir, Deputy Prime Minister and Minister of Industry and Transport; and Sultan Al Jaber, UAE Minister of Industry and Advanced Technology.

Minister Al Jaber said AD Ports’ role would focus on upgrading the industrial zone’s infrastructure to create a competitive, investor-friendly environment, aligning with Egypt’s economic growth ambitions.