AD Ports Group, a leading facilitator of global trade, logistics and industry (ADX: ADPORTS), announced today the signing of a Memorandum of Understanding (MoU) with the Egyptian Ministry of Industry and Transport to explore joint development and operations an integrated logistics Park in Alexandria.
The signing took place today in Cairo in the presence of His Excellency Lieutenant General Engineer Kamel Al Wazir, Egyptian Minister of Industry and Transport, and Her Excellency Mariam Al Kaabi, UAE Ambassador to the Arab Republic of Egypt and Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, Ad Ports Group.
The signing was conducted by Ahmed Al Mutawa, Regional CEO of AD Ports Group with Amr Ahmed Moustafa, Executive Managing Director of the Holding Company for Maritime and Land Transportation (HCMLT), an affiliate of the Ministry of Transportation of Egypt.
AD Ports Group will pursue a collaboration with HCMLT 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: “AD Ports Group partners with governments for the long-term development of their economies, inspired by the vision of our wise leadership. We are working with the Egyptian government to bring growth, jobs and prosperity to the people of Egypt. 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.’’
The UAE and Egypt enjoy a close and fruitful relationship, and the new signing will further enhance the ties between both countries.
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 Ro-Ro 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. The UAE had a trade volume of AED 25.2 billion (USD 6.9 billion) with Egypt in 2023, according to the UAE Ministry of Economy.
Over 1,600 Emirati companies are present in Egypt. In February 2024, the two countries signed a landmark agreement that will see the UAE invest USD 35 billion to develop the Ras El-Hekma coastal region, 350 km northwest of Cairo.
