AD Ports Group and the Red Sea Ports Authority have signed agreements on joint development and operation of major port projects on Egypt’s coastline.
The first project comprises the establishment of a multipurpose terminal in Safaga Port operated and managed by AD Ports – in a consortium with the Red Sea Ports Authority and Egyptian Group for Multipurpose Terminals Company.
Safaga Port is set on a strategic location on the Red Sea and – upon completion in 2024 – the new terminal will be built on offer berths of up to 1,000 meters capable of handling all types of general, dry, and liquid bulk cargo.
The new joint venture will provide port users with several marine services – including vessel traffic management, dangerous goods control, provision of navigation aids, fire prevention and firefighting, anchorage, dredging, as well as pilotage, towage, and mooring and unmooring solutions.
The second agreement covers the development, operation, and management of cruise ship berths and terminals at Sharm El Sheikh, Hurghada, and Safaga ports in an effort to extend cruise tourism in Egypt. In addition, AD Ports Group will develop plans for cruise ships lines linking Abu Dhabi, Hurghada, Sharm El Sheikh and Aqaba.
The Minister of Transport, Lieutenant-General Eng. Kamel El-Wazir, commented during the signing ceremony: “These agreements are […] aiming to make Egypt a global trade and logistics hub through the development of Egyptian ports at the Red Sea and Mediterranean Sea coasts, and the constructive cooperation between Egyptian and UAE ports.”
The agreements are the latest in a series between AD Ports Group and maritime organisations in Egypt, including the joint development and operation of Egypt’s Ain Sokhna Port with the Egyptian Group for Multipurpose Stations Company.
The group revenue increased for the 14th consecutive year to AED 3.9 billion ($1.06 billion) compared to AED 3.4 billion ($925 million) in 2020.
