Egypt, AD Ports Group ink $4.7m deal to develop Red Sea ports

By Aya Anwar On Jun 13, 2024

The Singing of BOT deal between The Egyptian General Authority for Red Sea Ports (RSPA) and the Abu Dhabi Ports Group (ADX) contract on Wednesday, for managing and operating cruise terminals at Safaga, Hurghada, and Sharm El Sheikh ports.

The Egyptian General Authority for Red Sea Ports (RSPA) and the Abu Dhabi Ports Group (ADX) signed a build-operate-transfer (BOT) contract on Wednesday, for managing and operating cruise terminals at Safaga, Hurghada, and Sharm El Sheikh ports.

AD Port Group is set to invest $4.7 million to enhance services and accessibility, with operations expected to commence in 2025. The agreement aims to strengthen AD Ports Group’s cruise business in the Red Sea.

Moreover, during the signing of the deal, AD Ports Group and the General Authority of the SCZONE have inked two 30-year concession agreements for the development, management, and operations of a Ro-Ro terminal and a cruise terminal at Sokhna Port.

These initiatives underscore the commitment to bolstering bilateral ties and enhancing cruise tourism in the region.

Attribution: Egyptian Cabinet.

A build-operate-transfer (BOT)Abu Dhabi Ports Group (ADX)AD Port Group Egyptian General Authority for Red Sea Ports (RSPA)Egyptian Safaga Port General Authority for Red Sea Ports Hurghada port o-Ro terminal and a cruise terminal at Sokhna Port