Dubai: The AD Ports Group has entered an alliance to develop major ports along Egypt’s coastline.
The Abu Dhabi entity, recently listed on ADX, will develop, operate, and manage a multi-purpose terminal in Safaga Port in a consortium with the Red Sea Ports Authority and the Egyptian Group for Multipurpose Terminals Company, the commercial arm of Egypt’s Ministry of Transportation.
The Safaga facility on the Red Sea will likely be completed in 2024, offering berths of up to 1,000 meters and capable of handling all types of general, dry and liquid bulk cargo. “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,” said Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group.
The joint venture will provide port users with a range of marine services, including those related to vessel traffic management, dangerous goods control, provision of navigation aids, fire prevention and firefighting, anchorage, dredging, as well as pilotage, towage, and mooring and unmooring solutions.
The venture aims to transition Egypt into a “global trade and logistics hub through the development of Egyptian ports at the Red Sea and Mediterranean Sea coasts, and the constructive cooperation between Egyptian and UAE ports,” said Lieutenant-General Kamel El-Wazir, Egypt’s Minister of Transport.
More cruise terminals
A second agreement covers the development, operation and management of cruise ship berths and terminals at Sharm El Sheikh, Hurghada and Safaga ports. It will also extend to providing support services to ‘extend cruise tourism in Egypt’.
In addition, AD Ports Group will develop plans for cruise ships lines linking Abu Dhabi, Hurghada, Sharm El Sheikh and Aqaba.
AD Ports Group will also carry out development work to enhance the experience of visiting tourists.
The agreements are the latest in a series between AD Ports Group and Egyptian entities, including one with the Egyptian Group for Multipurpose Terminals for the development and operation of Egypt’s Ain Sokhna Port.
The company's first project, Tahya Misr terminal - on the berths from 55-62 Alexandria port - will play a major role in the development of the port of Alexandria.