The board of directors of the Suez Canal Economic Zone Authority has approved a series of new projects to be carried out in collaboration with the “Abu Dhabi Ports” group and its subsidiaries, through the injection of new investments into the seaports belonging to the authority.
The chairman of the Authority, Walid Gamal Al-Din, said in an interview with the Egyptian “Al-Arabiya” television channel that the investments of “Abu Dhabi Ports” will differ from one port to another, when in total the Emirati group is expected to invest in four seaports in Egypt.
Gamal Al-Din added that the Abu Dhabi Ports Group will invest about 830 million Egyptian pounds in Al-Arish Port to build 6 cement silos for export with a capacity of two million tons. According to him, other investments worth 400 million pounds will be directed to the export of cement from Port Said West port. Also, memoranda of understanding were signed regarding the port of Ain Sokhna and the port of Port Said East.
Gamal Al-Din also said that the Abu Dhabi Ports Group is considering expanding its investments to include the “Al-Adabiya” port, and these days negotiations are underway in this matter.