AD Ports Group Signs MoUs to Develop, Operate Egypt's Ain Sokhna Port
Furthering the development of Egypt’s maritime industry, AD Ports Group has signed a Memorandum of Understanding (MoU) with the Egyptian Group for Multipurpose Terminals, the commercial arm of the Egyptian Ministry of Transportation, to jointly oversee the development and operation of Egypt’s Ain Sokhna Port.
They will also discuss cooperation with the aim to develop the maritime sector in Egypt.
Under the agreement, the two organisations will work closely together to conduct a feasibility study into the future development of Ain Sokhna Port.
They will explore potential investment opportunities to enhance capacities and capabilities, which will enable the port to target untapped market segments and establish new revenue streams.
AD Ports Group will manage the research study for Ain Sokhna Port, which is expected to be conducted over a period of six months, while the Egyptian Group for Multipurpose Terminals will support the project with the provision of financial, technical, environmental, commercial, and operational data necessary to ensure the study’s successful conclusion.
A second MoU, signed with the Egyptian Group for Multi-Purpose Terminals and the River Transport Authority, will see the parties collaborate on three main projects including building and operating a river port in Minya; managing and operating warehouses in Damietta; and equipping, managing and operating passenger lines in Greater Cairo.
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The signing took place on the side-lines of the eleventh session of the International Conference on Maritime Transport and Logistics (Marlog 11).
Rear Admiral Abdul Qadir Darwish, Chairman of the Egyptian Group for Multipurpose Terminals, said: “These agreements represent an important step in the field of maritime and river transport in Egypt by developing port operations and establishing and operating logistics areas.
"The Egyptian Multipurpose Terminals Group and AD Ports Group have a close collaborative relationship and this collaboration has resulted in these important agreements that will play a key role in supporting Egypt's maritime and river port ecosystem.
"Today the continued cooperation between the two parties has achieved further successes, reflecting the close relations at all levels, and expanding the horizon of cooperation to include the potential management of a multi-purpose terminal at Ain Sokhna Port on the Gulf of Suez and collaboration on the operation of a river transport station in order to activate river transportation across the Nile."
Saif Al Mazrouei, Head of Ports Cluster, AD Ports Group, said: “AD Ports Group is pleased to further our close relationship with the Egyptian Ministry of Transport and to coordinate with the River Transport Authority and the Egyptian Group for Multipurpose Terminals on these latest projects to support Egypt’s efforts to further modernise its maritime infrastructure and service capabilities.”
“We see significant commercial and social potential for the development of Ain Sokhna Port and the river port in Minya. The cooperation will boost the already strong capabilities that these facilities have in commercial and maritime shipping, as well as in the cruise sector.
"We are confident that AD Ports Group has the experience and expertise required to bring the best out of these key assets.”
Participating in the 11th Session of the International Conference on Shipping and Logistics at MARLOG 11 2022, AD Ports Group’s representatives showcased several of the organisation’s achievements of the past year.
They also advanced a series of discussions and agreements that were initially conceived during last year’s Trans-MEA conference, including its MoU with the Egyptian Group for Multipurpose Terminals for the development and operation of a multipurpose terminal in Safaga Port.