Posted on November 11, 2021
AD Ports Group, a leading facilitator of trade and logistics, has signed a Memorandum of Understanding (MoU) with the Egyptian Group for Multipurpose Terminals, the commercial arm of the Egyptian Ministry of Transportation, for the development and operation of a multipurpose terminal in Safaga Port, according to the company’s release.
The signing was conducted on the sidelines of the 4th Smart Transport, Logistics & Traffic Fair & Forum for the MEA Region (TransMEA 2021), held under the patronage of His Excellency Abdel Fattah El-Sisi, President of the Arab Republic of Egypt. The legal document was signed in the presence of His Excellency Kamel El Wazir, Minister of Transportation in Egypt; by Saif Al Mazrouei, Head of Ports Cluster, AD Ports Group; and Rear Admiral Abdul Qadir Darwish, Chairman of the Egyptian Group for Multipurpose Terminals.
Under the MoU, AD Ports Group will explore investment opportunities and conduct feasibility and local market studies related to developing and operating a multipurpose terminal in Safaga Port, with both parties benefitting from the exchange of expertise and best practices. 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 and will elevate the country’s ability to compete with other nations that manufacture similar industrial products.
