AD Ports Group, a key player in global trade, logistics, and industry facilitation, announced the signing of a definitive concession agreement with the Red Sea Ports Authority (RSPA) for the establishment and operation of a versatile terminal at Safaga Sea Port.
This significant milestone, approved by the Government of Egypt, underscores the robust trade relations between the United Arab Emirates and the Arab Republic of Egypt.
The official agreement took place at the Egyptian Cabinet headquarters in Cairo, with the presence of notable figures such as Mostafa Madbouly, Egypt’s prime minister, Lieutenant-General Eng. Kamel El Wazir, Egypt’s minister of Transport, Mariam Al Kaabi, ambassador of the UAE to Egypt, and Mohamed Juma Al Shamisi, managing director and Group CEO of AD Ports Group.
The signing was conducted by Ahmed Al Mutawa, regional CEO of AD Ports Group, and Major General Osama Saleh, vice-chairman of the Board of Directors of the Red Sea Port Authority.
Under the Law on the Granting of Commitment Contract issued on 1 November 2023, the Safaga Port definitive agreement represents a significant step forward in the strategic alliance between AD Ports Group and RSPA.
This collaboration involves a US$200 million investment over three years to develop a cutting-edge facility strategically positioned in the Red Sea, marking the first internationally operated port catering to the Upper Egypt region.
“We are delighted to have signed the definitive concession agreement to develop and operate a multi-purpose terminal in Egypt’s Safaga Port. The confidence and trust placed by the Egyptian government and our partners is a testament to AD Ports Group’s capabilities and experience in developing ports and terminals infrastructure. With this project, our Group will demonstrate its commitment to enhancing the efficiency of global supply chains, creating faster trade routes and providing diverse logistics solutions for our key strategic trading partners,” stated Mohamed Juma Al Shamisi, managing director and Group CEO, AD Ports Group.
The comprehensive investment encompasses infrastructure, equipment, buildings, and utilities within the concession area, creating advanced facilities and state-of-the-art infrastructure. Encompassing approximately 810,000 square meters, the terminal will feature a 1,000-meter quay wall and handle various cargo types, including dry bulk, liquid bulk, containerized cargo, and Ro-Ro.
Expected to bring substantial economic impact, the project will deliver cost savings and efficiency enhancements for traders and businesses in the region. The terminal is slated to become operational by 2025.
