SCZONE and Suez Steel Strike $120M Deal to Boost Adabiya Port
Big developments are underway at Adabiya Port! Mr. Waleid Gamal El-Dien, Chairman of the Suez Canal Economic Zone (SCZONE), and Mr. Rafik Boulos Doss, Vice President and Managing Director of Suez Steel Company S.A.E., have signed a landmark agreement that’s set to transform the port’s capabilities.
The deal, which involves a $120 million investment, grants Suez Steel a 30,000-square-meter concession area within Adabiya Port. As part of the agreement, Suez Steel will operate and maintain Berths 4 and 5, which span 650 meters in length and have a depth of 17 meters. Additionally, the company will manage a specialized yard for the storage and handling of dry bulk goods and key materials for the iron and steel industries.
According to the press release, this partnership marks a significant step forward in leveraging Adabiya Port’s strategic location at the southern entrance of the Suez Canal. Positioned as a vital link between Asia and Africa, the port is set to become an even bigger player in global trade and supply chains.
Speaking at the signing ceremony, SCZONE Chairman Eng. Waleid Gamal El-Dien highlighted the economic zone’s ongoing efforts to enhance its ports and industrial zones. “Our goal is to fully capitalize on SCZONE’s unique location on the Red and Mediterranean Seas,” he said. “By integrating ports, industrial areas, and logistics zones, we aim to support global supply chains and foster economic growth across multiple sectors. Partnerships like this are crucial to realizing Egypt’s Vision 2030, which positions our ports as global trade hubs.”
Mr. Rafik Boulos Doss of Suez Steel shared his enthusiasm for the collaboration, pointing out the benefits it brings to both the company and the region. “This agreement will allow us to handle up to 5 million tons of dry bulk cargo annually in the first phase, with plans to double that capacity to 10 million tons within five years,” he explained. “This growth will not only enhance our operations but also elevate Adabiya Port as a leading hub for the steel industry and other key sectors.”
Adabiya Port is already one of the Red Sea’s most significant ports for handling dry and liquid bulk cargo, managing around 7 million tons annually. However, ongoing upgrades are set to make it even more capable. The port is expanding its berthing facilities, with plans to accommodate vessels up to 300 meters long and with drafts of 17 meters. New infrastructure will also make it possible to handle oversized and heavy cargo, enhancing its role in Egypt’s trade and logistics landscape.
With this strategic partnership between SCZONE and Suez Steel, Adabiya Port is poised for a bright future, solidifying its status as a key player in regional and international trade.
