AD Ports Group inks MoU to explore logistics infrastructure collaborations in Alexandria, Egypt
AD Ports Group, a leading facilitator of global trade, logistics and industry, has announced the signing of a Memorandum of Understanding (MoU) with the Egyptian Ministry of Industry and Transport to explore joint development and operations of an integrated logistics park in Alexandria.
AD Ports Group will pursue a collaboration to explore developing, managing and operating 1.1 square kilometre of Integrated Logistics Area, set to be one of the largest logistics hubs on the Mediterranean Sea, at Alexandria Port. The port accounts for about 60% of Egypt’s foreign trade, according to government figures.
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said: “Today’s signing could lead to strategic infrastructure projects in the Mediterranean Sea region that would leverage Egypt’s global trade flows, driving economic growth and advancing the Group’s portfolio of value-added investments.’’
Over the last three years, AD Ports Group has entered the Egyptian market with the acquisition of Egyptian maritime companies Transmar, TCI and Safina B.V. The Group has also signed long-term concessions to develop and operate cruise terminals at the Red Sea ports of Safaga, Hurghada, Al Sokhna and Sharm El-Sheikh, and to build and operate a multipurpose port in Safaga and a RoRo terminal in Al Sokhna.
The UAE is Egypt’s second-largest trading partner and its biggest international investor, according to the Egyptian Commercial Service (ECS), with USD 9.6 billion invested in the country in 2023, as per a release.
Source : Our Correspondent