AD Ports Group has signed a 30-year concession agreement with the Red Sea Ports Authority to develop and operate a multi-purpose port in Safaga, Egypt. Under the terms of the deal, the Abu Dhabi-based group will be responsible for the development and operation of a multipurpose terminal at the port of Safaga, known as a strategic location on Egypt's Red Sea coast.

The terminal will cover an area of 810,000 square meters and will be operational by the second quarter of 2025. The quay wall of the terminal is as high as 1,000 meters, and it can handle 5 million tons of dry bulk cargo and general cargo, including 1 million tons of liquid bulk cargo, 450,000 TEU container cargo and 50,000 CEU ro-ro ships.

In mid-February 2023, Mawani and Maersk broke ground on a $346 million logistics park, and in early March 2023, Mawani signed an agreement to build a $266 million integrated logistics park in Al Khumrah.

In addition to this, AD Ports Group has also signed two 15-year agreements, a memorandum of understanding and three heads of articles, covering ports located in the Red Sea region of Egypt and the Mediterranean Sea, thus enabling the activities of the group to be secured in Egypt. Significant expansion. The Abu Dhabi company said in its statement that the agreements allow for the expansion of multi-purpose terminals, cruise ships in Safaga, Ain Sokhna, Port Said, Hurghada, Sharm El Sheikh and Arish routes and logistics capabilities.

AD Ports Group explained that it will invest a total of $200 million in superstructure and equipment, buildings and other real estate facilities and utility networks within the concession area. Most of the capex will be spent in 2024 and 2025.

In addition, AD Ports Group and the General Administration of Suez Canal Economic Zone also signed an agreement to build two cement terminals in Arish Port and West Said Port. These two terminals require a total investment of 33 million US dollars. In mid-March 2023, AD Ports Group said it opened a digital zone in Zayed Port.Editor/XingWentao