AD Ports signs MoU with Egypt for multipurpose terminal in Safaga Port
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 multipurpose terminal in Safaga Port.
November 10, 2021: 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 multipurpose terminal in Safaga Port.
Under the MoU, AD Ports Group will explore investment opportunities and conduct feasibility and local market studies related to developing and operating a multipurpose terminal in Safaga Port, with both parties benefitting from the exchange of expertise and best practices. The MoU aims to support the growth of the Middle East’s industrial and logistics sectors, as well as assist in opening new markets for Egyptian exports via direct maritime routes across the Arabian Gulf, East Asia, and Africa regions. It will also facilitate commercial activities operating within the Golden Triangle and Upper Egypt and will elevate the country’s ability to compete with other nations that manufacture similar industrial products.
Saif Al Mazrouei, head of ports cluster, AD Ports Group, said: “We are pleased to sign this MoU with the Egyptian Group for Multipurpose Terminals, which falls in line with AD Ports Group’s efforts to promote trade relations with Arab sister nations, as well as our commitment to expand regional and global reach as a leading enabler of global trade and logistics.
“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 Port 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.”
Abdul Qadir Darwish, chairman of the Egyptian Group for Multipurpose Terminals expressed his appreciation for the newly announced cooperation with AD Ports Group, noting that the MoU will serve as a promising starting point for further collaborations, which will provide a wide range of services beneficial to each nation’s trade and logistics sectors.
Darwish, said: “The investment environment in Egypt is rich with opportunities, and it is crucial that we advance and enhance seaports in Egypt so that they become centres for further commercial development, and competitive with other international ports. In turn, this will greatly benefit our nation’s national economy.”