The UAE-based AD Ports Group has signed a Memorandum of Understanding (MoU) with the Egyptian Ministry of Industry and Transport to explore the joint development and operation of an integrated logistics park in Alexandria.
Logistics infrastructure collaborations
In a statement issue, AD Ports Group said that it will work with the Holding Company for Maritime and Land Transportation (HCMLT), an affiliate of the Egyptian Transport Ministry, on plans to develop a 1.1 square kilometre logistics facility at Alexandria Port – which 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, commented: ‘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.’
AD Ports Group said that it has already been raising its profile in the Egypt over the past three years, 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.
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Source: AD Ports Group
