SCZONE and Sky Ports sign MoU and usufruct agreement for Ain Sokhna Port terminal

Deal Analysis

SCZONE and Sky Ports have entered into a partnership, formalized through a memorandum of understanding and an 18-month usufruct agreement, to develop a new multi-purpose terminal at Ain Sokhna Port in Egypt. This collaboration signifies a strategic move to enhance port infrastructure within the Suez Canal Economic Zone (SCZONE). The involvement of the East Port Said Port Authority, a key player in Egyptian port management and development, further underscores the project's importance to the region's maritime sector. While the financial details of the deal remain undisclosed, the partnership between SCZONE, Sky Ports, and the East Port Said Port Authority suggests a concerted effort to modernize and expand port facilities at Ain Sokhna. The usufruct agreement grants Sky Ports the right to utilize and benefit from the terminal for a specified period, indicating a phased approach to development. This project aligns with Egypt's broader strategy to strengthen its position as a major trade and logistics hub, leveraging its strategic location on the Gulf of Suez.

Partnership between SCZONE and Sky Ports for a new multi-purpose terminal.
Involvement of East Port Said Port Authority highlights strategic importance.
Usufruct agreement suggests a phased development approach.
Deal aims to modernize and expand port facilities at Ain Sokhna.

Market Context: The deal takes place within Egypt's transport sector, specifically focusing on port infrastructure development. Egypt is strategically located and is investing in its ports to become a major trade and logistics hub.

Source Intelligence

KEY DETAILS

The facility will have a daily throughput of 20,000 metric tonnes and a loading rate of 1,000 metric tonnes per hour, enabling it to serve Panamax-class vessels. Once fully operational, the facility is expected to scale Egypt's bulk cement export capacity to between 4 and 6 million tonnes annually.

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Deal Size

Sky Ports has commenced construction of a $50 million bulk cement export facility within its multi-purpose terminal in East Port Said Port on the Suez Canal, the company chairman said.

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Capacity

The terminal will comprise eight concrete silos, each with a 20,000 metric tonnes capacity, providing total storage capacity of 160,000 metric tonnes.

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Location

Egypt’s Sky Ports starts work on $50mln bulk cement export terminal in East Port Said Port on the Suez Canal, the company chairman said.

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Financials

Sky Ports has secured a 1.4 billion Egyptian pounds ($30 million) syndicated loan from a banking consortium of National Bank of Egypt (NBE), Banque du Caire, and Al Baraka Bank to support the terminal’s expansion.

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Signing

The concession agreement for the project was signed with SCZONE in November 2022.

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COD

Operations are scheduled to commence in January 2026

PARTIES MENTIONED IN SOURCE

S

Sky Ports developer

"Egypt’s Sky Ports starts work on $50mln bulk cement export terminal in East Port Said Port"

S

SCZONE counterparty

"The concession agreement for the project was signed with SCZONE in November 2022."

N

National Bank of Egypt (NBE) lender

"Sky Ports has secured a 1.4 billion Egyptian pounds ($30 million) syndicated loan from a banking consortium of National Bank of Egypt (NBE), Banque du Caire, and Al Baraka Bank to support the terminal’s expansion."

B

Banque du Caire lender

"Sky Ports has secured a 1.4 billion Egyptian pounds ($30 million) syndicated loan from a banking consortium of National Bank of Egypt (NBE), Banque du Caire, and Al Baraka Bank to support the terminal’s expansion."

A

Al Baraka Bank lender

"Sky Ports has secured a 1.4 billion Egyptian pounds ($30 million) syndicated loan from a banking consortium of National Bank of Egypt (NBE), Banque du Caire, and Al Baraka Bank to support the terminal’s expansion."

high quality Enriched Feb 19, 2026