Global logistics, industry and trade company AD Ports Group has signed three definitive concession agreements to develop, operate and manage cruise terminals at the Safaga, Hurghada and Sharm El Sheikh ports, Ro-Ro terminal and Sokhna Port in Egypt.
AD Ports Group’s concession agreement with the Egyptian state-owned Red Sea Ports Authority (RSPA) involves a $4.7 million investment over the next 15 years, focusing on managing and operating the terminals at the Safaga, Hurghada, and Sharm El Sheikh ports. These terminals – slated to be operational by 2025 – are expected to enhance services, improve access for cruise operators and expand itineraries in the Red Sea.
Additional concession agreements signed between AD Ports Group and the General Authority of the Suez Canal Economic Zone include two 30-year contracts to develop, manage and operate a Ro-Ro terminal and a cruise terminal at Sokhna Port.
The agreements were signed at the Egyptian Cabinet headquarters in Cairo, attended by Egypt’s Prime Minister Mostafa Madbouly, Transport Minister Kamel El Wazir, UAE Ambassador to Egypt Mariam Al Kaabi, AD Ports Group CEO Captain Mohamed Juma Al Shamisi, and other key officials.
