AD Ports Group announced the signing of a Memorandum of Understanding (MoU) with the Egyptian Ministry of Industry and Transport to explore joint development and operations of an integrated logistics park in Alexandria.
The UAE port major will pursue a collaboration with the Holding Company for Maritime and Land Transportation (HCMLT), an affiliate of the Ministry of Transportation of Egypt, to explore developing, managing and operating 1.1 square kilometre of the integrated logistics area.
The area is set to be one of the largest logistics hubs on the Mediterranean Sea, at Alexandria Port.
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said the Group is working with the Egyptian government to bring growth, jobs and prosperity to the people of Egypt.
“The agreement 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,” he said.
The UAE and Egypt enjoy a close and fruitful relationship, and the new agreement with AD Ports is expected to further enhance the relations between both countries.
Over the last three years, AD Ports Group has entered the Egyptian market with the acquisition of Egyptian maritime companies Transmar, TCI, and Safina BV.
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.
