Egypt’s Minister of Transport, Kamel al-Wazir has signed several agreements with Abu Dhabi’s AD Ports Group to manage, operate, and maintain Safaga port, according to the ministry’s statement on Sunday.
In addition to signing of two 15-year agreements, 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 el-Arish.
Safaga’s terminal will be developed over area of 810,000 square metres and is set to be operational in Q2 2025. AD Ports Group will invest a total of up to $200 million in superstructure and equipment, buildings, and other real estate facilities inside the concession area.
The MoU for the purpose of potential collaboration in various transportation and infrastructure projects, with an initial focus on the development of the East Port Said multi-purpose terminal, as well as a logistics zone and economic zone, was signed between AD and the General Authority for SCZone.
