AD Ports Group, a leading facilitator of global trade, logistics and industry, has announced the signing of a MoU with the Egyptian Ministry of Industry and Transport to explore joint development and operations an integrated logistics Park in Alexandria.

 

As per the deal, AD Ports Group will pursue a collaboration with Holding Company for Maritime and Land Transportation (HCMLT), an affiliate of the Ministry of Transportation of Egypt, to explore development, management and operation of a 1.1 sq km integrated logistics area at Alexandria Port. 

 

Set to be one of the largest logistics hubs on the Mediterranean Sea, the port accounts for about 60% of Egypt’s foreign trade, according to government figures.

 

The deal was inked today (January 23) in Cairo by Ahmed Al Mutawa, Regional CEO of AD Ports Group and Amr Ahmed Moustafa, Executive Managing Director of HCMLT at a special ceremony held in the presence of Lieutenant General Engineer Kamel Al Wazir, Egyptian Minister of Industry and Transport, and Mariam Al Kaabi, UAE Ambassador to Egypt and Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group.

 

Al Shamisi 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."

 

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.

 

"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," he stated.

 

The UAE and Egypt enjoy a close and fruitful relationship, and the new signing will further enhance the ties between both countries, he added.-TradeArabia News Service