Abu Dhabi’s AD Ports Group has signed a Memorandum of Understanding (MoU) with the Egyptian Group for Multipurpose Terminals, the commercial arm of the Egyptian Ministry of Transportation, for the development and operation of a new multipurpose terminal in Safaga port on the Red Sea.
Under the terms of the MoU, AD Ports will explore investment opportunities and conduct feasibility and local market studies related to developing and operating the terminal. One of the main aims of the agreement is to help open up new markets for Egyptian exports through direct maritime routes, across the Middle East Gulf, East Asia and Africa regions.
Saif Al Mazrouei, Head of Ports Cluster, AD Ports Group, said: “The strategic location of Safaga port on the Red Sea holds great potential for a significant role within the global supply chain. We are confident that the cooperation will prove beneficial for both sides, as it combines the unique characteristics of Safaga with the long-standing expertise offered by AD Ports Group in managing and operating maritime terminals, along with the Group’s extensive capabilities in delivering end-to-end services across the entire supply chain.”