Egypt partners with AD Ports Group to develop Safaga Port Terminal



Wed, 27 Dec 2023 - 01:07 GMT


Wed, 27 Dec 2023 - 01:07 GMT

CAIRO – 27 December 2023: Abu Dhabi Ports Group (AD Ports Group) and the General Authority of Red Sea Ports have joined forces to construct and enhance the multi-purpose terminal, Safaga 2, situated at Safaga Port.

By signing this contract, the aim is to stimulate investments in Egypt's market, bolster the growth rates of the Egyptian economy, and amplify the gross domestic product, as stated by Minister of Transportation, Kamel Al-Wazir.

Furthermore, this collaboration will play a pivotal role in enhancing Egypt's share of the global transit trade market, facilitating international trade, and elevating the port's global classification.

The signing ceremony was witnessed by Prime Minister Mostafa Madbouly, the Minister of Transportation, and AD Ports Group officials.

The minister of transport emphasized that this contract falls within the framework of implementing an extensive cooperative plan between the Egyptian Ministry of Transport and Abu Dhabi Ports Group, encompassing several projects for Egypt's logistics sector.

Al-Wazir further revealed that the Ministry of Transport has invested approximately EGP 3.6 billion in the development of Safaga Port, with the objective of restoring its prominent position in the global trade landscape.

This contract comes within the scope of implementing the directives of President Abdel Fattah El-Sisi, to develop all Egyptian ports to achieve the goal of making Egypt a global hub for trade and logistics, and making optimal use of its strategic location on the Red Sea and the Mediterranean.



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