AD Ports initials contract to build, develop, operate, maintain terminals at Egyptian Red Sea ports

CAIRO (WAM)

Egypt has initialled a contract with AD Ports Group (AD Ports) to build, develop, operate and maintain terminals for passengers and cruise lines at the Red Sea ports of Hurghada, Safaga and Sharm El Sheikh.

The contract will also commit AD Ports Group to develop yacht and cruise ship tourism in Egypt, the Egyptian Ministry of Transport said in a statement.

"This contract will contribute to operating cruise lines between Zayed Port and Safaga, Hurghada and Sharm El-Sheikh and, later, Arabian Gulf ports, Aqaba and Europe and Asia," a statement by the Egyptian Ministry of Transport said.

AD Ports on December 27th announced that it has signed a definitive concession agreement with the Egyptian Red Sea Ports Authority (RSPA) for the development and operation of a multi-purpose terminal at Safaga Seaport. Following the Government of Egypt’s approval, this significant milestone reaffirms the strong trade ties between the UAE and the Arab Republic of Egypt.