Multi-purpose terminal announced for Safaga Port
AD Ports Group has signed a definitive concession agreement with Egypt’s Red Sea Ports Authority to develop and operate a new multi-purpose terminal at Safaga Port. The agreement will involve an investment of USD 200 million by AD Ports Group and the establishment of the first internationally operated port serving the Upper Egypt region.
Plans are in place for the new terminal to become operational in 2025. The 810,000m2 site will have a one-kilometre quay for a range of shipments including dry bulk, liquid bulk, containerised cargoes, and RoRo consignments. The terminal is expected to have a significant economic impact on the region.
AD Ports Group managing director and CEO, Captain Mohamed Juma Al Shamisi, commented: “We are delighted to have signed the definitive concession agreement to develop and operate a multipurpose terminal in Egypt’s Safaga Port. The confidence and trust placed by the Egyptian Government and our partners is a testament in 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.”
His colleague, Saif Al Mazrouei, CEO of AD Ports Group Ports Cluster, added: “AD Ports Group’s expertise in port infrastructure development and operations positions us uniquely to leverage those skills and knowledge to play a key role in the next stage in the evolution of Safaga Port. Moreover, Safaga's strategic position on the Red Sea coast allowing to not only enhance our commercial offerings and diversify revenue streams, but also contribute to Egypt’s broader economic objectives, setting the stage for further cooperation and opportunities in other sectors.”
The United Arab Emirates is Egypt’s second largest trading partner in the region.
