AD Ports Group Signs MoU with the Egyptian Ministry of Industry & Transport
Over the last three years, AD Ports Group has entered the Egyptian market with the acquisition of Egyptian maritime companies Transmar, TCI, and Safina B.V
AD Ports Group has announced the signing of a Memorandum of Understanding (MoU) with the Egyptian Ministry of Industry and Transport to explore joint development and operations in an integrated logistics Park in Alexandria. The signing took place in Cairo.
The firm will pursue a collaboration with HCMLT to explore developing, managing and operating 1.1sqkm of an Integrated Logistics Area, set to be one of the key logistics hubs on the Mediterranean Sea, at Alexandria Port. The port accounts for about 60% of Egypt’s foreign trade, according to government figures.
Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group said, “AD Ports Group partners with governments for the long-term development of their economies, inspired by the vision of our wise leadership. We are working with the Egyptian government to bring growth, jobs and prosperity to the people of Egypt. Today’s signing could lead to strategic infrastructure projects in the Mediterranean Sea region that would leverage Egypt’s global trade flows, driving economic growth and advancing the Group’s portfolio of value-added investments.”
Over the last three years, AD Ports Group has entered the Egyptian market with the acquisition of Egyptian maritime companies Transmar, TCI, and Safina B.V. The group has also signed long-term concessions to develop and operate cruise terminals at the Red Sea ports of Safaga, Hurghada, Al Sokhna and Sharm El-Sheikh, and to build and operate a multipurpose port in Safaga and a Ro-Ro terminal in Al Sokhna.
The UAE is Egypt’s second-largest trading partner and its biggest international investor, according to the Egyptian Commercial Service (ECS), with US $9.6bn invested in the country in 2023. The UAE has a trade volume of $6.9bn with Egypt in 2023, according to the UAE Ministry of Economy.
Over 1,600 Emirati companies are present in Egypt. In February 2024, the two countries signed a landmark agreement that will see the UAE invest $35bn to develop the Ras El-Hekma coastal region, 350 km northwest of Cairo.
