A term sheet and ahead of terms agreement for major port developments along Egypt’s coastline has been signed by AD Ports Group and the Red Sea Ports Authority.
The first arrangement will see AD Ports Group collaborate with the Red Sea Ports Authority and the Egyptian Group for Multipurpose Terminals Company, the commercial arm of the Egyptian Ministry of Transportation, to develop, operate, and manage a multi-purpose terminal in Safaga Port.
Because of its strategic location on the Red Sea, the multi-purpose terminal project in Safaga Port is a significant national project. When finished in 2024, the terminal will have 1,000-meter berths that can handle all forms of general, dry, and liquid bulk cargo.
The new joint venture will provide a wide range of marine services to port users as part of the deal. These services include vessel traffic management, dangerous goods control, navigation aids, fire prevention and suppression, anchorage, dredging, pilotage, towage, and mooring and unmooring solutions, among others.
Lieutenant-General Engineer Kamel El-Wazir, Egypt’s Minister of Transport, witnessed the signing ceremony, which was attended by Major General Mohamed Abdel Rahim, chairman of the Red Sea Ports Authority’s board of directors; Rear Admiral Abdel Qader Darwish, chairman of the Egyptian Group for Multipurpose Terminals’ board of directors; and Saif Al Mazrouei, CEO of the AD Ports Group’s Ports Cluster.
These agreements, according to Lieutenant-General Eng. Kamel El-Wazir, Minister of Transport, are in line with President Abdel Fattah El-directives Sisi’s to make Egypt a global trade and logistics hub through the development of Egyptian ports along the Red Sea and the Mediterranean Sea coasts, as well as constructive cooperation between Egyptian and UAE ports.
“In line with our leadership’s vision to promote cooperation with fraternal Arab neighbours, we are pleased to extend our strategic relationship with the Egyptian authorities through these agreements, which cover a full range of services across multiple ports along the Red Sea coast,” said Captain Mohamed Juma Al Shamisi, managing director and Group CEO of AD Ports Group. The Ministry of Transportation has ambitious plans to expand maritime trade and transportation, and AD Ports Group is ready to provide its expertise and experience to these important growth initiatives.”
The second deal covers the development, operation, and administration of cruise ship berths and terminals at the ports of Sharm El Sheikh, Hurghada, and Safaga, as well as support services, to help Egypt expand its cruise tourism. AD Ports Group will also establish plans for cruise ship lines that will connect Abu Dhabi, Hurghada, Sharm El Sheikh, and Aqaba.
AD Ports Group can carry out development activities to improve the experience of visiting tourists within the conditions of the agreement.
Major General Mohamed Abdel Rahim, chairman of the Red Sea Ports Authority’s board of directors, and Saif Al Mazrouei, CEO of the AD Ports Group’s Ports Cluster, signed the memorandum.
