Abu Dhabi-headquartered port terminal operator AD Ports Group has signed a definitive concession deal with the Red Sea Ports Authority (RSPA), for the development and operation of a multi-purpose terminal at Safaga Sea Port in Egypt.
The signed Safaga Port agreement marks a significant advancement in the strategic partnership between AD Ports Group and RSPA.
This partnership will see an investment of $200m over 3 years, aiming to develop a facility within the strategic location of the Red Sea and will be the first internationally operated port serving the Upper Egypt region.
The total investment will cover superstructure, equipment, buildings, and utilities within the concession area to create advanced facilities and leading-edge infrastructure.
The terminal, spanning approximately 810,000 square meters, will feature a 1,000-meter quay wall and will handle diverse cargo types, including dry bulk, liquid bulk, containerised cargo, and Ro-Ro.
This project is expected to bring substantial economic impact, with cost savings and efficiency improvements to traders and businesses in the region, as AD Ports Group reveals.
The terminal is on track to become operational by 2025.
Captain Mohamed Juma Al Shamisi, managing director and group chief executive, AD Ports Group, said: “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 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.”
Saif Al Mazrouei, chief executive of Ports Cluster at AD Ports Group, pointed out that “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.”
