EGYPT AND AD PORTS WILL DEVELOP A NEW PORT IN SAFAGA
To build and maintain a multipurpose port in Safaga, the Ministry of Transport has signed a number of agreements with the AD Ports Group of the United Arab Emirates. The Safaga port will be the first one in Upper Egypt to be run on an international scale when it opens in 2025.
The deal states that AD Ports will contribute up to USD 200 million towards the development of structures, machinery, and real estate facilities.
Additionally, AD Ports and the General Authority for the Suez Canal Economic Zone have inked two 15-year contracts to build two cement terminals in the ports of Al Arish and West Port Said. According to the deal, both ports will have a sizable yearly storage capacity of over 1.5 million tonnes. The terminals will be in use by the end of the 2023 fourth quarter.
