AD Ports signs final agreement to operate Egypt’s Safaga 2 terminal
Updated 12/27/2023 12:04:00 PM
Arab Finance: Red Sea Ports Authority (RSPA) and an Abu Dhabi Ports Group (AD Ports) consortium have inked the final 30-year concession agreement to manage, operate, maintain, and re-deliver the multi-purpose terminal Safaga 2 as well as construct and develop its superstructure, according to a statement.
The AD Ports consortium comprises Golden Anchor Ships Operator Limited and Silver Anchor Facilities Management Limited.
The Safaga 2 terminal is set to accommodate around 1 million containers annually and receive roughly 7 million metric tons of goods, Egyptian Minister of Transport Kamel Al-Wazir said.
The agreement aims to pump new investments into the national market and boost the economic growth, he noted.
The minister added that the ministry has invested EGP 3.6 billion so far to develop Safaga port.
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