The Suez Canal Economic Zone (SCZONE) and Suez Steel Company have entered into a preliminary agreement to develop and operate dry bulk handling facilities at Adabiya Port as per Reports.
The announcement highlights the port’s strategic importance as a critical hub for international trade.
Walid Gamal El-Din has signed an initial contract with Rafic Daou, Vice Chairman and Managing Director of Suez Steel Company (S.A.E.).
Under the agreement, Suez Steel is allocated a 30,000-square-meter area within the port, with plans to invest $120 million in the project. The initiative will involve the operation and maintenance of marine berths 4 and 5, which span 650 meters in length and reach a depth of 17 meters.
n the first phase, Adabiya Port’s dry bulk handling is projected at 5 million tons annually, with plans to double to 10 million tons within five years.
A report stated that Walid Gamal El-Din highlighted the strategic importance of Adabiya Port as a gateway connecting Asia and Africa through the southern entrance of the Suez Canal, during the signing ceremony.
In addition, Suez Steel will manage the storage and handling of dry bulk materials, focusing on raw materials and products associated with the iron and steel industries.
As one of Egypt’s leading ports for dry and liquid bulk goods, it plays a vital role in the country’s trade and economic growth.
Modernization efforts at the port are also underway, including plans to extend dock lengths to 1,200 meters in the first phase.
This will enable the port to accommodate ships of up to 150,000 tons, with lengths of 300 meters and drafts of 17 meters, further enhancing the port’s capacity and efficiency.