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AD Ports, Red Sea Ports ink 2 deals for major port projects in Egypt

AD Ports, Red Sea Ports ink 2 deals for major port projects in Egypt

ArabFinance: UAE’s AD Ports Group has signed a term sheet and a head of terms agreement with the Red Sea Ports Authority (RSPA) for port projects in Egypt, according to a press release on May 5th.

Under the first agreement, AD Ports will develop, operate, and manage a multi-purpose terminal in Safaga port in partnership with the RSPA and the Egyptian Group for Multipurpose Terminals Company, a subsidiary of Egypt’s Ministry of Transport.

Slated for completion in 2024, the multi-purpose terminal project in Safaga Port will offer berths of up to 1,000 meters able to handle different types of general, dry, and liquid bulk cargo.

The new joint venture (JV) between AD Ports and Egyptian firms will provide port users with a plethora of marine services, including services relevant to vessel traffic management, dangerous goods control, provision of navigation aids, fire prevention, and firefighting, anchorage, dredging, pilotage, towage, and mooring and unmooring solutions.

As per the second agreement, AD Ports will handle the development, operation, and management of cruise ship berths and terminals at the ports of Sharm El-Sheikh, Hurghada, and Safaga.

The Emirati group will also set plans to promote cruise tourism in Egypt and to support services to improve the experience of tourists.

“These agreements are in line with the directions of His Excellency Abdel Fattah El-Sisi, President of the Arab Republic of Egypt, aiming to make Egypt a global trade and logistics hub,” Minister of Transport Kamel El-Wazir commented.

“The Ministry of Transport has ambitious plans to boost maritime trade and transportation, and AD Ports Group stands ready to leverage its expertise and experience to support these vital development projects,” Managing Director and Group CEO of AD Ports Mohamed Al-Shamisi said.

Established in 2006, AD Ports operates ports and terminals in the UAE and Guinea, and more than 550 square kilometers of industrial zones within Khalifa Industrial Zone Abu Dhabi (KIZAD) and ZonesCorp, the largest integrated trade, logistics, and industrial business grouping in the Middle East.

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