AD Ports Group Signs Deals To Boost Egypt's Cruise Tourism With $4.7 Million Investment

AD Ports Group, a prominent facilitator of logistics, industry, and trade, has entered into a significant concession agreement with the Red Sea Ports Authority (RSPA) to develop, manage, and operate three key cruise terminals at Safaga, Hurghada, and Sharm El Sheikh ports.

This strategic partnership, underscored by an investment of US$4.7 million over the next 15 years, aims to transform the cruise terminal landscape in the Red Sea by 2025. The initiative is set to enhance service offerings, improve access for cruise operators, and introduce new itineraries, thereby bolstering the Red Sea region's cruise business and enriching passenger experiences.

The formal signing ceremony took place at the Egyptian Cabinet headquarters in Cairo, attended by esteemed figures including Egypt's Prime Minister, Dr. Mostafa Madbouly; Lieutenant-General Kamel El Wazir, Egypt's Minister of Transport; Mariam Al Kaabi, UAE Ambassador to Egypt; and Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group. Ahmed Al Mutawa, Regional CEO, AD Ports Group, and Major General Osama Saleh, Vice-Chairman of the Board of Directors of the Red Sea Port Authority, executed the agreement.

In tandem with this agreement, AD Ports Group also cemented two 30-year concession agreements with the General Authority of the Suez Canal Economic Zone (SCZONE) for the development, management, and operations of a Roll-on/Roll-off (Ro-Ro) terminal and a cruise terminal at Sokhna Port. This move is indicative of AD Ports Group's ambition to expand its footprint in the cruise and Ro-Ro service sectors, leveraging Sokhna's strategic location on the western shore of the Gulf of Suez.

Captain Mohammed Juma Al Shamisi highlighted the aim to enhance the cruise tourism sector in the Red Sea. He emphasized the commitment to delivering world-class facilities and services to passengers and strengthening the UAE and Egypt's bilateral ties. This endeavor aligns with the leadership's vision in both nations and builds upon an initial agreement signed earlier in January.

The collaboration between AD Ports Group and Egyptian authorities is not limited to these recent agreements. It follows a definitive concession agreement signed in December 2023 with RSPA for the development and operations of a multipurpose terminal at Safaga Port. This terminal, representing a $200 million investment over three years, is poised to become the first internationally operated port serving the Upper Egypt region.