Abu Dhabi Ports Group has signed a Memorandum of Understanding (MoU) with the Egyptian Group for Multipurpose Terminals for the development and operation of a multipurpose terminal in Safaga Port.

Under the agreement, AD Ports will explore investment opportunities and conduct feasibility and local market studies related to developing and operating a multipurpose terminal in Safaga Port. The MoU aims to support the growth of the Middle East’s industrial and logistics sectors, as well as assist in opening new markets for Egyptian exports via direct maritime routes across the Arabian Gulf, East Asia, and Africa regions. It will also facilitate commercial activities operating within the Golden Triangle and Upper Egypt.

The Egyptian Group for Multipurpose Terminals is established in order to design, build up and manage the multipurpose terminal in docks no. 55 to 62 in Alexandria seaport. It is formed by Alexandria Seaport General Authority with 34% shares, Suez Canal Authority (33% shares) and Holding Company for Maritime and Land Transport (33% shares).