AD Ports Group (ADP) and the Red Sea Ports Authority have signed a Term Sheet and a Head of Terms agreement for major port projects in Egypt.
The first agreement will see ADP develop, operate, and manage a multi-purpose terminal in Safaga Port in a consortium with the Red Sea Ports Authority and the Egyptian Group for Multipurpose Terminals Co, the commercial arm of the Egyptian Ministry of Transportation.
A second agreement covers the development, operation, and management of cruise ship berths and terminals at Sharm El Sheikh, Hurghada and Safaga ports and to provide support services to help extend Egyptian cruise tourism.
In addition, ADP will develop plans for cruise ships to link Abu Dhabi, Hurghada, Sharm El Sheikh and Aqaba.
Under the terms of the agreement, ADP will carry out development work to enhance visiting tourists’ experiences.
The memorandum was signed by Maj Gen Mohamed Abdel Rahim, Chairman of the Board of Directors of the Red Sea Ports Authority and Saif Al Mazrouei – ADP’s CEO of the Ports Cluster.