UAE Business: AD Ports sign MoU for multipurpose terminal in Safaga Port – Gulf Digital News

UAE Business: AD Ports sign MoU for multipurpose terminal in Safaga Port – Gulf Digital News

AD Ports Group has signed a Memorandum of Understanding (MoU) with the Egyptian Group for Multipurpose Terminals for the development and operation of a multipurpose terminal in Egypt’s Safaga Port.  

 

Under the MoU, AD Ports Group will explore investment opportunities and conduct feasibility and local market studies related to developing and operating a multipurpose terminal in Safaga Port, with both parties benefitting from the exchange of expertise and best practices. 

 

The MoU aims to support the growth of the Middle East’s industrial and logistics sectors, as well as assist in opening new markets for Egyptian exports via direct maritime routes across the Arabian Gulf, East Asia, and Africa regions. 

 

It will also facilitate commercial activities operating within the Golden Triangle and Upper Egypt and will elevate the country’s ability to compete with other nations that manufacture similar industrial products.

 

The signing was conducted on the sidelines of the 4th Smart Transport, Logistics & Traffic Fair & Forum for the MEA Region (TransMEA 2021), held under the patronage of Abdel Fattah El-Sisi, President of the Arab Republic of Egypt. 

 

The legal document was signed in the presence of Kamel El Wazir, Minister of Transportation in Egypt by Saif Al Mazrouei, Head of Ports Cluster, AD Ports