UAE's the AD Ports Group has entered into a memorandum of understanding (MOU) with the Egyptian Group for Multipurpose Terminals, the commercial arm of the Egyptian Ministry of Transportation, to jointly oversee the development and operation of Egypt's Ain Sokhna Port and discuss cooperation with the aim to develop the maritime sector in the country.
Under the agreement, the two organisations will work closely together to conduct a feasibility study into the future development of Ain Sokhna Port, exploring potential investment opportunities to enhance its capacity and capabilities.
The AD Ports Group will manage the research study for Ain Sokhna Port. The study will be conducted over a period of six months.
The Egyptian Group for Multipurpose Terminals will support the project with the provision of financial, technical, environmental, commercial, and operational data necessary to ensure the study's successful conclusion.
A second MOU, signed with the Egyptian Group for Multi-Purpose Terminals and the River Transport Authority, will see the parties collaborate on three main projects including building and operating a river port in Minya, managing and operating warehouses in Damietta, and equipping, managing and operating passenger lines in Greater Cairo.
