The Abu Dhabi (AD) Ports Group has signed a Memorandum of Understanding (MoU) with the Egyptian Group for Multipurpose Terminals (EGMT), the commercial arm of the Egyptian Ministry of Transportation, to jointly oversee the development and operation of Egypt’s Ain Sokhna Port and discuss cooperation with the aim to develop the maritime sector in Egypt.
AD Ports Group also signed another MoU with EGMT and the River Transport Authority to 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.
This is the third such MoU signed to develop ports in Egypt. In November last year, AD Ports Group signed an agreement with EGMT to develop and operate a multipurpose terminal in Safaga Port on the Red Sea.
Under the agreement, AD Ports Group will explore investment opportunities and conduct feasibility and local market studies related to developing and operating the Safaga port to benefit both parties by exchanging expertise and best practice.
AD Ports also signed a similar agreement with the Aqaba Development Corporation in September to establish its first cruise terminal outside the UAE, at the Marsa Zayed project in Aqaba, Jordan.
Ain Sokhna Port
As part of the MoUs, the two organisations will work closely together to conduct a feasibility study into the future development of Ain Sokhna Port, exploring potential investment opportunities to enhance its capacity 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 EGMT will support the project with the provision of financial, technical, environmental, commercial, and operational data necessary to ensure the study’s successful conclusion.
The signing took place on the side-lines of the eleventh session of the International Conference on Maritime Transport and Logistics (Marlog 11), in the presence of Egyptian Minister of Transport, Lt. Gen. Kamel el Wazir and Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group.
It was signed by Saif Al Mazrouei, Head of Ports Cluster at AD Ports Group and Rear Admiral Abdul Qadir Darwish, Chairman of the Egyptian Group for Multipurpose Terminals and Admiral/ Mofed Salah Shehata – Chairman and CEO of River Transport Authority.
EGMT Chairman, Rear Admiral Abdul Qadir Darwish, 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 two organisations have a close collaborative relationship and this resulted in these important agreements that will play a key role in supporting Egypt’s maritime and river port ecosystem.”
Saif Al Mazrouei, Head of Ports Cluster, AD Ports Group, said: “We are pleased to further our close relationship with the EGMT 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.”