SCZone Signs Major Agreement with Suez Steel to Boost Operations at Adabiya Port

The Chairman of the General Authority for the Suez Canal Economic Zone (SCZone), Walid Gamal El-Din, has signed an initial contract with Rafic Daou, Vice Chairman and Managing Director of Suez Steel Company (S.A.E.).

The agreement grants Suez Steel a 30,000-square-meter concession within Adabiya Port, representing an investment of $120 million.

This partnership enables Suez Steel to operate and maintain berths (4 and 5) at Adabiya Port, which extend 650 meters in length and have a depth of 17 meters.

In the first phase, the expected handling volume for dry bulk cargo is projected to reach 5 million tons annually, with a plan to scale up to 10 million tons per year within five years.

The agreement also includes the use of a dedicated storage and handling area for dry bulk cargo and materials related to the iron and steel industries.

During the signing ceremony, 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.

The port plays a crucial role in realizing Egypt’s Vision 2030, which aims to position Egyptian ports as global hubs for trade and transit.

Rafic Daou emphasized the significance of this collaboration, noting that the iron and steel industry serves as a foundation for various sectors, including automotive and energy.

He further stated that the projected growth in cargo handling will solidify Adabiya Port’s position as a leader in the Red Sea region.

Adabiya Port, a key facility for dry and liquid bulk cargo, handles an average of 7 million tons annually. It is currently undergoing significant upgrades, including the expansion of 1,200 meters of berths in the first phase.

These improvements will enable the port to accommodate larger vessels with capacities of up to 150,000 tons, lengths of 300 meters, and a draft of 17 meters.

Additionally, the port is being equipped to manage oversized shipments, ensuring smooth procedures for their reception, storage, and transportation.