Dubai: The AD Ports Group has secured management contracts for 3 cruise terminals in Egypt, including the one in Sharm El Sheikh. The contract duration is for 15 years, and will also cover the extensive renovation of the Sharm El Sheikh terminal to help with higher cruise tourist flow into Egypt.
The UAE company is to invest $3 million over 15 years in the management and operation of the three cruise terminals, as well as improve access for cruise operators and add new itineraries through its cruise terminal network in the Red Sea.
"This will in turn strengthen AD Ports Group’s cruise business in the Red Sea region, supporting volumes of cruise passengers and elevating passenger and cruise experiences," said a statement.
The concession agreement is expected to be finalised during this quarter.
AD Ports Group is poised to boost cruise tourism in the Red Sea - bringing world-class services and facilities to these ports, whilst supporting economic growth for Egypt
The concession agreement was initialled - in the presence of Lieutenant-General Eng. Kamel El Wazir, Egypt’s Minister of Transport - by Major General Mohamed Abdel Rahim, Chairman of Red Sea Ports Authority, and Ahmed Al Mutawa, Regional CEO, AD Ports Group.
AD Ports Group and Red Sea Ports Authority already have a MoU for the development and operation of a multi-purpose terminal at Safaga Sea Port. This will see an investment of $200 million over 3 years, aimed at 'developing a state-of-the-art facility within the strategic location of the Red Sea'. It will also be the 'first internationally operated port serving the Upper Egypt region'.
Last year, AD Ports Group inaugurated the Aqaba Cruise Terminal, the first such in Jordan.