AD Ports signs MoU with Egypt for multipurpose terminal in Safaga Port

LogisticsUpdateAfrica

253
views

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, for the development and operation of a multipurpose terminal in Safaga Port.

AD Ports signs MoU with Egypt for multipurpose terminal in Safaga Port

Under the MoU, AD Ports Group will explore investment opportunities and conduct feasibility and local market studies related to developing and operating a multipurpose terminal in Safaga Port, with both parties benefitting from the exchange of expertise and best practices. The MoU aims to support the growth of the Middle East’s industrial and logistics sectors, as well as assist in opening new markets for Egyptian exports via direct maritime routes across the Arabian Gulf, East Asia, and Africa regions. It will also facilitate commercial activities operating within the Golden Triangle and Upper Egypt and will elevate the country’s ability to compete with other nations that manufacture similar industrial products.