AD Ports Group and RSPA sign Definitive Concession Agreement
Approve MoU to develop and operate Multipurpose Terminal in Safaga Port
AD Ports Group recently announced that it has signed a definitive concession agreement with the Red Sea Ports Authority (RSPA) for the development and operation of a multi-purpose terminal at Safaga Sea Port. Following the Government of Egypt’s approval, this significant milestone reaffirms the strong trade ties between the UAE and Egypt.
The definitive agreement was signed at the Egyptian Cabinet headquarters in Cairo in the presence of HE Dr. Mostafa Madbouly, Egypt’s Prime Minister; Lieutenant-General Eng. Kamel El Wazir, Egypt’s Minister of Transport; Mariam Al Kaabi, Ambassador of the UAE to Egypt; Captain Mohamed Juma Al Shamisi Managing Director and Group CEO, AD Ports Group; Ahmed Al Mutawa, Regional CEO, AD Ports Group, and Major General Osama Saleh, Vice Chairman, Board of Directors, Red Sea Port Authority.
Investment
The total investment will cover superstructure, equipment, buildings, and utilities within the concession area to create advanced facilities and leading-edge infrastructure. The terminal, spanning approximately 810,000sqm, will feature a 1,000m quay wall and will handle diverse cargo types, including dry bulk, liquid bulk, containerised cargo, and Ro-Ro.
This project is expected to bring substantial economic impact, with cost savings and efficiency improvements to traders and businesses in the region. The terminal is on track to become operational by 2025.
“With this project, our Group will demonstrate its commitment to enhancing the efficiency of global supply chains, creating faster trade routes and providing diverse logistics solutions for our key strategic trading partners,” commented Capt. Al Shamisi.
“Safaga’s strategic position on the Red Sea coast allows to not only enhance our commercial offerings and diversify revenue streams, but also contribute to Egypt’s broader economic objectives, setting the stage for further cooperation and opportunities in other sectors,” remarked Saif Al Mazrouei, CEO, Ports Cluster, AD Ports Group.
