Abu Dhabi Ports Group announced today the signing of a final concession agreement with the Red Sea Ports Authority to develop and operate a multi-purpose terminal in the Egyptian sea port of Safaga for a period of 30 years, following the Egyptian government’s approval of the agreement, which highlights the established economic ties between the UAE and Egypt. .
The group stated in a statement that the agreement was signed at the headquarters of the Egyptian Council of Ministers in Cairo in the presence of the Chairman of the Council, Mostafa Madbouly, the Egyptian Minister of Transport, Kamel Al-Wazir, the UAE Ambassador to Egypt, Maryam Al-Kaabi, and the Managing Director and CEO of Abu Dhabi Ports Group, Mohammed Jumaa Al-Shamsi.
The agreement was signed by the Regional CEO of Abu Dhabi Ports Group, Ahmed Al Mutawa, and the Vice Chairman of the Board of Directors of the General Authority of Red Sea Ports, Osama Saleh.
The signing of the final Safaga Port agreement was made pursuant to the Law of Awarding the Commitment Contract on November 1 of this year, which represents an important step in the strategic partnership between Abu Dhabi Ports Group and the Red Sea Ports Authority.
This cooperation will see an investment worth $200 million over three years, with the aim of developing a modern facility within the strategic location in the Red Sea, and it will be the first port to be operated internationally to serve the Upper Egypt region.
The total investment will cover the superstructure, equipment, buildings and facilities within the concession area to create advanced facilities and advanced infrastructure.
The station, which extends over an area of approximately 810,000 square metres, will include a berth length of 1,000 metres.
It will handle different types of cargo, including dry bulk, liquid bulk, containerized cargo and ro-ro.
The Managing Director and CEO of Abu Dhabi Ports Group said: “We are pleased to conclude the final concession agreement to develop and operate a multi-purpose terminal in Safaga Port in Egypt, and we are proud of the confidence of the Egyptian government and our partners in our capabilities and experience in developing the infrastructure of ports and marine terminals, enhancing the efficiency of global supply chains, and establishing faster trade routes.” And providing various logistical solutions to our strategic business partners.”
2023-12-27 10:48:38
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