Abu Dhabi’s AD Ports Group will invest $4.7 million over the next 15 years after signing a definitive concession agreement with the Red Sea Ports Authority (RSPA) to develop, operate and manage three cruise terminals at Safaga, Hurghada, and Sharm El Sheikh ports.
The investment will cover the management and operations of the three cruise terminals – expected to be operational in 2025. It also entails providing new services, improving access for cruise operators and adding new itineraries through the group’s cruise terminal network in the Red Sea.
The agreement was signed at the Egyptian Cabinet headquarters in Cairo in the presence of Prime Minister Dr Mostafa Madbouly and Lieutenant-General Kamel El Wazir, the country’s Minister of Transport.
In addition, AD Ports Group and the General Authority of the Suez Canal Economic Zone (SCZONE) agreed and signed on two 30-year concessions for the development, management, and operations of a Ro-Ro terminal and a cruise terminal at Sokhna Port.
Captain Mohammed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, commented: “Today’s signings reaffirm our commitment to bolstering the cruise tourism sector in the Red Sea through providing world-class facilities and services to passengers, while further strengthening bilateral ties between the UAE and Egypt.
“Sokhna is strategically positioned on the western shore of the Gulf of Suez. We are keen on collaborating with our partners at the General Authority of the Suez Canal Economic Zone to fulfil the region’s requirement for prime cruise and Ro-Ro services.”
The agreements reaffirm strong bilateral ties between the two nations and follow a definitive concession agreement signed in December 2023 with the RSPA for the development and operations of a multi-purpose terminal at Safaga Port, which will become the first internationally operated port serving the Upper Egypt region with an investment of $200 million over three years.
Established in 2006, AD Ports Group serves as one of the world’s premier facilitator of logistics, industry, and trade, as well as a bridge linking Abu Dhabi to the world. Operating several clusters, including Digital, Economic Cities & Free Zones, Logistics, Maritime & Shipping, and Ports, AD Ports Group’s portfolio comprises 28 ports and terminals, with a presence in over 50 countries.
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