Thursday, June 13, 2024 AD Ports Group has entered into a significant concession agreement with the Red Sea Ports Authority (RSPA) to develop and manage three cruise terminals in Egypt, located at Safaga, Hurghada, and Sharm El Sheikh. With a $4.7 million investment spread over the next 15 years, the project aims to have these terminals operational by 2025, enhancing Egypt’s cruise tourism sector.
This development is part of a strategic effort to boost tourism and elevate passenger experiences in the Red Sea region. Additionally, AD Ports Group has signed two 30-year concession agreements with the General Authority of the Suez Canal Economic Zone (SCZONE) to manage a Ro-Ro terminal and a cruise terminal at Sokhna Port, complementing a previous $200 million investment in a multi-purpose terminal at Safaga Port. These initiatives underscore AD Ports Group’s commitment to fostering strong bilateral ties between the UAE and Egypt, as articulated by Captain Al Shamisi, the Group’s managing director and CEO.
These strategic agreements and investments by AD Ports Group are set to significantly enhance Egypt’s position in the global cruise tourism market by 2025. The development of cruise terminals at key Red Sea ports and the collaborative efforts with SCZONE to manage terminals at Sokhna Port reflect a robust plan to increase passenger volumes and improve services. Furthermore, AD Ports Group’s initiative to establish a green methanol facility for low-carbon fuel marks a .
