UAE-based the AD Ports Group has entered into a definitive concession agreement with the Red Sea Ports Authority of Egypt for the development and operation of a multi-purpose terminal at Safaga Sea Port.
The collaboration will see an investment of US$200 million over three years with the aim of developing a state-of-the-art facility within the strategic location of the Red Sea.
The AD Ports Group said this will be the first internationally operated port serving the Upper Egypt region.
The total investment will cover superstructure, equipment, buildings, and utilities within the concession area to create. The terminal, spanning approximately 810,000 square metres, will feature a 1,000-metre quay wall and will handle diverse cargo types, including dry bulk, liquid bulk, containerised cargo, and Ro-Ro.
The terminal is scheduled to become operational by 2025.
