AD Ports Group secures $115 mn IFC-led financing for Safaga Terminal
The facility will be the first port terminal in the Upper Egypt region operated by an international company.
AD Ports Group has secured a $115 million project finance facility to support the development of the Noatum Ports Safaga Terminal in Egypt. The company said the funding forms part of its plans to expand port and logistics infrastructure across its international markets.
The financing is backed by the International Finance Corporation with participation from the National Bank of Kuwait Egypt and other institutional investors through an IFC-managed co-lending portfolio programme. The facility carries a 15-year tenor. The company said the transaction has received approvals, with financial close expected in the first quarter of 2026, subject to condition precedents.
According to the company, the agreement aligns with its approach of using multilateral-backed financing structures to fund infrastructure projects in emerging markets. Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said: “This IFC-backed project finance facility reflects our prudent approach to funding long-term infrastructure assets in emerging markets through multilateral and institutional partnerships. The participation of IFC, NBK - Egypt, and other international investors supports the development of the Noatum Ports - Safaga Terminal and reinforces our growing presence in Egypt, a market of strategic importance to the global supply chain.”
Makhtar Diop, Managing Director, IFC, said: "Enhancing trade is key to stimulating economic development; this transaction demonstrates how IFC can be a strategic enabler for South-South investments. The project will strengthen Egypt’s position as a central trade hub, lower costs for local businesses and create high-quality jobs, while also reinforcing the UAE’s position as a regional growth engine and a partner for deeper economic integration.”
Yasser El Tayeb, Vice Chairman, CEO and Managing Director, NBK Egypt, said: “This landmark financing underscores NBK-Egypt’s commitment to supporting strategic infrastructure projects that drive sustainable economic growth along with having an environmental impact by reducing the CO₂ emissions.”
The Noatum Ports Safaga Terminal is a $200 million project located on Egypt’s Red Sea coast. The facility will be the first port terminal in the Upper Egypt region operated by an international company. AD Ports Group said the terminal forms part of its plans to build and operate port assets across trade corridors, with Egypt positioned as one of its international markets.
The group’s activities in Egypt include container shipping, terminal and stevedoring operations, maritime agency services; and cargo handling. It is also developing cruise terminals in Safaga, Hurghada and Sharm El Sheikh. In 2025, the company signed a 50-year renewable usufruct agreement to develop and operate KEZAD East Port Said, a 20-square-kilometre industrial and logistics park at the Suez Canal gateway.
AD Ports Group has also acquired a 19.328 per cent equity stake in Alexandria Container and Cargo Handling Company. The company has announced plans to launch a mandatory cash tender offer to acquire an additional stake that would result in majority ownership and control. The terminals operated by ALCN at Alexandria and El Dekheila are expected to complement the group’s expansion plans in Egypt.
