AD Ports Group signs a 30-year Concession Agreement to develop and operate Safaga Port in Egypt

AD Ports Group signs a 30-year Concession Agreement to develop and operate Safaga Port in Egypt

ABU DHABI,18th March, 2023 (WAM) – AD Ports Group, the leading facilitator of global trade, logistics, and industry, today announced the signing of a concession agreement to develop and operate a multi-purpose port in Safaga in Egypt, in addition to signing of two 15-year agreements, a Memorandum of Understanding (MoU) and three Head of Terms (HoT) concerning ports located in Egypt’s Red Sea region and the Mediterranean Sea, enabling a major expansion of the Group’s activities into Egypt.

These agreements allow for expanded access to multipurpose terminals, cruise routes, and logistics capabilities in Safaga, Ain Sokhna, Port Said, Hurghada, Sharm El Sheikh and Al Arish.

The agreements were signed in Cairo in the presence of Lieutenant-General Kamel al-Wazir, Minister of Transport of Egypt, Mariam Al Kaabi, Ambassador of the UAE to Egypt, Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, Major General Osama Saleh, Vice- Chairman of the Board of Directors of the Red Sea Port Authority, Walid Jamal Eldin, Chairman of the General Authority for the Suez Canal Economic Zone, as well as Saif Al Mazroui, CEO, Ports Cluster, AD Ports Group, and other senior officials.

AD Ports Group and the Red Sea Ports Authority signed a