Abu Dhabi Ports Group and the Suez Canal Economic Zone Authority (SCZONE) have signed a renewable 50-year usufruct agreement aimed at developing and operating a 20-square-kilometer industrial and logistics zone near the Port of Said on the Mediterranean coast.

The agreement was signed by Ahmed Al Mutawa, the Regional CEO of Abu Dhabi Ports Group, and Admiral Mohamed Ahmed Mahmoud, Vice Chairman of the Northern Region of the Suez Canal Economic Zone Authority.

Under the terms of the agreement, Abu Dhabi Ports Group will lead the phased development, construction, and operation of the 20-square-kilometer area, starting with an initial phase of 2.8 square kilometers. The first phase is expected to span three years, with an investment of $120 million for market research and initial development, and construction is planned to commence by the end of the year. Leading regional developer Hassan Allam Holding is a key partner and is expected to be the primary contractor for the initial phase.

Ahmed Al Mutawa stated that the development of the zone aims to attract investment, drive industrial and logistics growth, create job opportunities, increase exports, develop skills, and facilitate technology transfer.

Admiral Mohamed Ahmed Mahmoud emphasized, "We are working to develop a comprehensive approach that integrates industry, maritime transport, and logistics services in a flexible and investment-friendly regulatory environment." He also noted that the zone is strategically located at the northern entrance of the Suez Canal and is linked to the key hub of global trade, the modernized Port of Said.

According to Zhongjin's understanding, last month, Abu Dhabi Ports Group conducted its first ship-to-ship liquefied natural gas bunkering operation at Khalifa Port, marking a significant step in providing alternative ship fuels and sustainable maritime solutions, while consolidating its critical position in the global energy transition.