As part of the agreement, Agility will invest $60m to establish two 100,000 sq m logistics and customs centers to serve businesses at the ports of Ain El Sokhna and East Port Said, the container arms of which are operated by DP World, and APM Terminals, respectively.
The agreement with Agility was signed at the Egyptian-Kuwaiti Economic Forum by SC Zone chairman, Walid Gamal El-Din, and Tarek Sultan, Vice Chairman of Agility.
“Agility will work with SCZone to implement its strategic vision in the areas of services, logistics, and industrial zone support by establishing a technical and logistical arm that will automate customs processes and operations in the SCZone. Automation will link the SCZone’s customs departments and relevant government agencies concerned with inspection work,” an Agility statement said.
“The project, intended to turn the zone into a global logistics hub, will improve the flow of goods and commodities and bring efficiency and lower costs to international companies and investors operating there. The project will be implemented during the second half of 2023.”
Gamal El-Din said the signing of the contract, would help underpin the Suez Canal Authority’s strategic 2025 plan, which aimed to create a favourable investment environment and further its key development goal to create job opportunities through integrated, sustainable economic growth.
“This agreement will enable the Suez Canal Authority to improve visibility over inbound materials and finished goods and enhance efficiency through a single-window customs platform. The result will be increased commercial activity, quicker release of cargo and better overall operations,” he said.
Tarek Sultan, vice chairman of Agility, said Egypt played a vital role in global and regional trade.
“By developing and modernizing the customs and logistics center, the SCZone and the Egyptian government are positioning Egypt to be the one of the world’s most advanced operators and an indispensable 21st century trade partner for MENA, Asia and Europe,” Sultan said.
“Companies with a presence in the Suez Canal Economic Zone will have access to the world’s best logistics infrastructure and services. They will be situated at the trade crossroads of the world, amid the fastest-growing markets.”
Egypt stands at an overall ranking of No.21 in the Agility Emerging Markets Logistics Index 2022.