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AD Ports has completed the biggest restructuring in its corporate history, integrating the assets of the recently acquired Noatum Group into its existing business network.
Under the new business structure, Noatum’s corporate head office in Spain has been integrated into AD Ports Group’s operations, with the maritime operating unit of Noatum established as new business segment within the Safeen Group, renamed Noatum Maritime. The former Noatum Terminals operating unit has also become a component of the newly established Noatum Ports, which will manage the existing and future international port operations of AD Ports Group.
Noatum Logistics has already assumed day-to-day responsibility for AD Ports Group’s Logistics Cluster business.
Captain Mohamed Juma Al Shamisi, Group Chief Executive Officer and Managing Director, AD Ports Group, said: “The successful integration of Noatum’s assets marks a major milestone in the corporate development of AD Ports Group. The addition of Noatum’s international brand equity, global networks, customer relationships and assets has not only strengthened and broadened the economic horizons of our Group, but it has positioned AD Ports Group for its next stage of growth.’’
AD Ports has recently announced that it has appointed Hassan Allam Construction to build the infrastructure of Noatum Ports’ Safaga Terminal on Egypt’s Red Sea coast. The terminal will cover an area of approximately 810,000 m2 and will have an annual container handling capacity of 450,000 TEU, 5 million tonnes of dry bulk and general cargo and 1 million tonnes of liquid bulk as well as ro-ro facilities capable of handling 50,000 car equivalent units (CEUs) a year
The terminal is part of around US$ 349 million in investments made by AD Ports in Egypt over the last three years. This includes the purchase of maritime companies Transmar, TCI and Safina; the planned construction of a ro-ro terminal in Ain Sokhna; and long-term concessions to develop and operate cruise terminals in Safaga, Hurghada, Ain Sokhna and Sharm El-Sheikh.
