AD Ports to invest $200m to develop Egypt’s Safaga port 

WAM

AD Ports Group of Abu Dhabi has signed a concession agreement with the Red Sea Ports Authority to develop and operate a multi-purpose terminal at Safaga port in Egypt. 

The agreement will mean an investment of $200 million over three years to develop the first internationally operated port serving the Upper Egypt region, the UAE state-run Wam news agency reported.

The total investment will cover superstructure, equipment, buildings and utilities within the concession area to create advanced facilities and infrastructure.

• UAE’s AD Ports plans to buy stake in Turkish port
• Egypt gets $455m to build new container port
• Abu Dhabi Ports in green steel deal with UK producer

The 810,000 sq m terminal will feature a one kilometre quay wall. It will handle diverse cargo types, including dry bulk, liquid bulk, containerised cargo, and Ro-Ro. 

The terminal is on track to become operational by 2025.

“This significant milestone embodies the strength of trade ties between the two nations and the keenness of the UAE’s wise leadership to continue supporting the ambitious development plans of the Egyptian government,” said Mohamed Juma Al Shamisi, managing director and group CEO of AD Ports Group. 

“Through this agreement, we aim to spur economic development, create jobs, boost local industries, and attract further investments into the region,” he said.

Saif Al Mazrouei, CEO of ports cluster at AD Ports Group, said Safaga’s strategic position on the Red Sea coast allows AD Ports to enhance its commercial offerings, diversify revenue streams and contribute to Egypt’s broader economic objectives.

Earlier this month, the UAE renewed its $1 billion deposit with the Central Bank of Egypt for an additional three years.

The deposit, which matured in June this year, has been extended until June 2026, Egypt Today newspaper reported, quoting a central bank report.