AD Ports Group has finalised a key agreement with the Red Sea Ports Authority (RSPA) to develop and operate a multi-purpose terminal at Safaga Sea Port. The signing occurred at the Egyptian Cabinet headquarters in Cairo and is sanctioned under the Law on the Granting of Commitment Contract issued on November 1.
The collaboration entails a $200 million investment over three years to establish a state-of-the-art facility strategically located in the Red Sea. This internationally operated port will serve the Upper Egypt region and is set to become operational by 2025.
The terminal, covering approximately 810,000 square meters, will feature a 1,000-metre quay wall and handle diverse cargo types, including dry bulk, liquid bulk, containerised cargo, and Ro-Ro. The project aims to bring significant economic impact, enhancing efficiency and providing logistics solutions for key strategic trading partners.
Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, expressed confidence in the Group’s capabilities, emphasising the commitment to global supply chain efficiency. Saif Al Mazrouei, CEO of Ports Cluster at AD Ports Group, highlighted the strategic position of Safaga Port and its potential to contribute to Egypt’s economic objectives. The project aligns with the UAE’s support for Egypt’s development plans, fostering economic growth, job creation, and local industry boost.
