A 30-year concession agreement has been signed between AD Ports Group and Red Sea Ports Authority to develop and operate a multi-purpose port in Safaga, a strategic location on the Red Sea coast of Egypt. Additionally, AD Ports Group has signed two 15-year agreements and a memorandum of understanding (MoU) and three head-of-terms agreements with ports in Egypt’s Red Sea and Mediterranean Sea regions.
The Safaga Port development will cover an approximate area of 810,000 square meters and is set to be operational in Q2 2025, with AD Ports Group investing up to $200m in the superstructure and equipment. Two cement terminals in Al Arish Port and West Port Said Port will also be developed, requiring a combined investment of EGP1bn ($33m). A joint venture with Uzbekistan’s SEG ENERA Group to provide end-to-end global logistics services across the central Asian country has also been created by AD Ports Group.