Abu Dhabi Ports plans massive investment in Egypt
Abu Dhabi Ports (AD Ports Group) has earmarked around $10 billion for anticipated investments in Egypt in the coming period, its chairman Falah Al Ahbabi said on Tuesday.
Al Ahbabi said the company, which operates ports, logistics and industrial zones, hopes the biggest share of the anticipated investments would be in the Egyptian ports.
The UAE official made these remarks during his meeting with Egyptian Transport Minister Kamel El-Wazir to discuss serious cooperation opportunities in the ports and marine transport sectors, according to a ministry statement.
AD Ports will soon sign an agreement with the Egyptian ministry of transport to operate a maritime freight transport network across the Nile to transport sugar commodities through Minya, Alexandria, and Damietta cities.
