Abu Dhabi Ports (AD Ports) Group, the region’s leading logistics, industry, and trade facilitator, has signed two Memorandum of Understandings (MoU) to develop and operate ports in Egypt and to explore cooperation opportunities in the maritime sector of the Arab world’s most populous country.
The first MoU was signed with the Egyptian Group for Multi-purpose Terminals, the commercial arm of the Egyptian Ministry of Transportation, to jointly oversee the development and operation of Ain Sokhna Port on the Gulf of Suez.
As part of the MoU, the two organizations will work closely to conduct a feasibility study into the future development of Ain Sokhna Port, explore potential investment opportunities to enhance its capacity and capabilities, which will enable the port to target untapped market segments and establish new revenue streams.
The AD Ports Group will manage the research study for Ain Sokhna Port, which is expected to be conducted over six months, while the Egyptian Group for Multi-purpose Terminals will support the provision of financial, technical, environmental, commercial, and operational data necessary to ensure the study’s successful conclusion.
The second MoU, signed with the Egyptian Group for Multi-purpose Terminals and the River Transport Authority, will see the parties collaborate on three main projects including building and operating a river port in Minya, managing and operating warehouses in Damietta, and equipping, managing and operating passenger lines in Greater Cairo.
“AD Ports Group is pleased to further our close relationship with the Egyptian Ministry of Transport and to coordinate with the River Transport Authority and the Egyptian Group for Multi-purpose Terminals on these latest projects to support Egypt’s efforts to further modernize its maritime infrastructure and service capabilities.”
Mr. Rear Admiral Abdul Qadir Darwish, Chairman of the Egyptian Group for Multi-purpose Terminals stated that “These agreements represent an important step in the field of maritime and river transport in Egypt by developing port operations and establishing and operating logistics areas. The Egyptian Multi-purpose Terminals Group and AD Ports Group have a close collaborative relationship and this collaboration has resulted in these important agreements that will play a key role in supporting Egypt’s maritime and river port ecosystem.”