UAE Strengthens Ties with Egypt through $120 Million Port Initiative
In a significant step towards bolstering its maritime and logistics capabilities, Egypt's Suez Canal Economic Zone recently entered into a 50-year concession agreement with the Abu Dhabi Ports Group (AD Ports). This agreement sets the stage for the creation of a sprawling 20-square-kilometre logistics and industrial hub east of Port Said. In a televised announcement on Sunday, the managing director of AD Ports conveyed the excitement surrounding this ambitious project.
At the heart of this agreement is an…