This cooperation will contribute to increasing Egypt’s share of the global market for transit trade, serving international trade, and raising the port’s global classification
The Red Sea Port Authority (RSPA) signed a contract with Abu Dhabi Ports Group (AD Ports Group) to build and develop the multi-purpose terminal (Safaga 2) at the Safaga Port.
The purpose of this agreement is to boost investments in Egypt’s market, raise the growth rates of the Egyptian economy, and increase the gross domestic product, according to a statement by Minister of Transportation, Kamel Al-Wazir.
Additionally, this cooperation will contribute to increasing Egypt’s share of the global market for transit trade, serving international trade, and raising the port’s global classification.
The signing ceremony was in the presence of Prime Minister, Mostafa Madbouly, the minister of transportation, and officials from AD Ports Group.
Al-Wazir confirmed that this contract comes within the framework of activating the major cooperation plan between the Egyptian Ministry of Transport and Abu Dhabi Ports Group to establish a number of projects for Egypt’s logistics sector.
The Ministry of Transport has invested about EGP 3.6 billion in developing the Safaga port to restore its leading position in the global trade movement, Al-Wazir added.
This agreement aligns with President Abdel Fattah El-Sisi's directives to enhance all Egyptian ports, striving to establish Egypt as a global trade and logistics hub, capitalizing on its advantageous location along the Red Sea and the Mediterranean.
