AD Ports signs pact to develop Safaga port in Egypt

AD Ports signs pact to develop Safaga port in Egypt

30-year concession will witness Dh734m investments over 2024 and 2025

Safaga Port will be the first internationally operated port in the Upper Egypt region, bringing significant cost savings to traders, industries and businesses located in this region. - Courtesy: Abu Dhabi Media Office

Published: Sat 18 Mar 2023, 6:39 PM

AD Ports Group has signed a concession agreement to develop and operate a multi-purpose port in Safaga in Egypt, in addition to signing two agreements for the development of two cement terminals in Al Arish Port and West Port Said Port, and four 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; Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO of 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