AD Ports Group has signed of a concession agreement to develop and operate a multi-purpose port in Safaga, Egypt.
In addition, the company agreed two 15-year deals, a memorandum of Understanding (MoU) and three Head of Terms (HoT) with ports located in Egypt’s Red Sea region and the Mediterranean, which will enable a major expansion of the Group’s activities into Egypt.
These agreements allow for expanded access to multi-purpose terminals, cruise routes, and logistics in Safaga, Ain Sokhna, Port Said, Hurghada, Sharm El Sheikh and Al Arish.
At Ain Sokhna, the HoT was for the development of three terminals, including ro-ro, cruise, and multi-purpose facilities. The agreement was signed between AD Ports Group and The General Authority for the Suez Canal Economic Zone.
Hurghada’s HoT was for the management and operation of a cruise terminal and was signed between AD Ports Group and the Red Sea Ports Authority.
The Sharm El Sheikh HoT calls for the development, management and operation of a cruise terminal and was also signed between AD Ports Group and the Red Sea Ports Authority.
Saif Al Mazroui, Ports Cluster CEO, AD Ports Group, said: “As part of AD Ports Group, our Ports Cluster is currently involved in a wide range of projects throughout Egypt, and in particular in Safaga Port.
“Our expertise as facilitators of global trade, as well as developers and operators of strategic port infrastructure projects, combined with Safaga Port’s strategic location on the Red Sea, means that we are uniquely positioned to deliver activities from managing port and logistics operations to providing tourists with access to Egypt’s fascinating history and culture, This will lend support to and promote the growth and diversification of the Egyptian economy,” he said.