Walid Gamal El-Din, Chairman of the Suez Canal Economic Zone (SCZone) announced the approval of the Authority's Board of Directors on a number of new projects that will be carried out in partnership with the Abu Dhabi Ports Group (AD Ports) and its subsidiaries by injecting new investments into the seaports of the zone.
These approvals came during the meeting of the Economic Zone Board of Directors, yesterday evening, in its fourth meeting for the fiscal year 2022-2023.
The meeting discussed several issues, including presenting projects with various investments to be established in the ports of the authority as well as the industrial zones, the most prominent of which is the partnership with the Abu Dhabi Ports Group after signing a number of memorandums of understanding between the region and the group, which aim to establish projects in the ports of East and West Port Said, Arish and Sokhna.
In this regard, the head of the Suez Canal Economic Zone said that AD Ports will build and develop the superstructure, manage, operate and re-deliver a multi-purpose, dry bulk and liquid bulk terminal for petroleum services at East Port Said berths with a length of 1.5 km, to be built in two phases, with a length of 750 meters for each phase.
The berths will be worked on and operated in the coming months, with the first phase of the project to start operating in the second quarter of 2024, to integrate with the logistics area that the group will implement on an area of 1.5 square kilometers adjacent to the berth.
In this regard, the head of the economic zone announced that the new berths that were implemented by the Egyptian state in East Port Said, with a length of 5 km, had been contracted to fully operate them.
On the other hand, the Board of Directors of the Authority approved the establishment of a Trans Cargo Company, one of the companies affiliated with the Abu Dhabi Ports Group, by establishing 6 silos for storing and trading black cement in the port of Al-Arish to be exported to foreign markets, with a storage capacity of 75,000 tons and starts with a trading volume of 250,000 tons up to 2 million tons during the next year after the completion of all phases of the project at an investment cost of EGP 830 million.
The Board also approved the Trans Cargo Company, a subsidiary of the Abu Dhabi Ports Group, a project to construct dry bulk silos for storing and handling black cement at Abbas Quay in West Port Said after the completion of its development.
The company is constructing 3 silos with a storage capacity of 30,000 tons and an investment cost of EGP 400 million, starting with 150,000 tons during the current year, targeting 600,000 tons during the year 2024/25 to reach 1.2 million tons of storage capacity by 2026.
The project is being built on an area of 5,000 square meters in West Port Said port, for a period of 15 years, so that all operating equipment will be transferred to the SCZone after the end of the contract period.
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