The Egyptian government has announced that the Suez Canal Economic Zone (SCZONE) and local steelmaker Suez Steel Company have signed a contract that grants the steelmaker a 30,000 m² concession area within Adabiya Port to develop. The project, with an estimated investment cost of $120 million, involves the operation and maintenance of marine berths 4 and 5.
In addition, Suez Steel will manage a storage and handling yard for dry bulk, including raw materials and products related to the iron and steel industries. Following this agreement, the expected handling volume will reach five million tons annually for dry bulk cargo in the first phase, with plans to gradually increase to 10 million tons annually within five years.