UAE’s AD Ports Signs Egypt Deals

AD Ports Group (ADPORTS) has announced that it signed a 15-year concession agreement with Egypt’s Red Sea Ports Authority (RSPA) to develop, operate and manage three cruise terminals at Safaga, Hurghada, and Sharm El Sheikh ports.

ADPORTS will invest US$4.7 million over the concession period on the management and operations of the three cruise terminals, expected to be operational in 2025, the Group said in a statement issued via the Abu Dhabi Media Office.

ADPORTS also signed two 30-year concession agreements with the General Authority of the Suez Canal Economic Zone (SCZONE) for the development, management, and operations of a Ro-Ro terminal and a cruise terminal at Sokhna Port.

In December last year, the Group had signed a concession agreement with RSPA for the development and operations of a multi-purpose terminal at Safaga with investment of $200 million over three years.