HCMLT, AD Ports sign MoU to develop logistics zone in Alexandria

Updated 1/23/2025 10:55:00 AM

Arab Finance: The Holding Company for Maritime and Land Transportation (HCMLT), an affiliate of Egypt’s Ministry of Transport, has inked a memorandum of understanding (MoU) with AD Ports Group to develop and operate a logistics zone in Alexandria Port, according to an official statement.

The signing was witnessed by the Egyptian Minister of Industry and Transport Kamel El-Wazir, the UAE Ambassador to Egypt Mariam Al Kaabi, and Managing Director and Group CEO of Ad Ports Mohamed Juma Al Shamisi.

The partnership aligns with the government’s objectives to transform Egypt into a regional hub for transport, logistics, and transit trade.

It also falls within the ministry’s comprehensive plan to establish 32 dry ports and a logistics zone across the country.

The logistics zone project at Alexandria Port covers an area of 273 acres within the first phase, while the second phase spans 600 acres.

Al Shamisi commented: “We are working with the Egyptian government to bring growth, jobs, and prosperity to the people of Egypt."

"The signing could lead to strategic infrastructure projects in the Mediterranean Sea region that would leverage Egypt’s global trade flows, driving economic growth and advancing the Group’s portfolio of value-added investments," he added.

The UAE-based group will join forces with HCMLT to explore developing, managing, and operating a 1.1-square-kilometer integrated logistics area.

The project is expected to be one of the largest logistics hubs on the Mediterranean Sea, representing around 60% of Egypt’s foreign trade, as per government figures.