The agreement aims to provide new services, improve access for cruise operators, and add new itineraries through the Group’s cruise terminal network in the Red Sea
AD Ports Group signed a 15-year concession agreement with the Red Sea Port Authority (RSPA), to operate and manage three cruise terminals at Safaga, Hurghada, and Sharm El Sheikh ports. AD Ports Group will invest $3 million over 15 years in the management and operation of the three cruise terminals.
The agreement aims to provide new services, improve access for cruise operators, and add new itineraries through the Group’s cruise terminal network in the Red Sea.
The agreement also includes the renovation of the Sharm El Sheikh terminal to enhance cruise tourism in Egypt. A definitive concession agreement is expected to be concluded in the first quarter of 2024, subject to regulatory approvals.
Through this partnership, the Ministry of Transport will ensure the arrival and frequency of the largest possible number of international ships at Egyptian ports, double the ports’ operating capacity, and expand transit trade, Transport Minister, Kamel al Wazir said.
The cruise line that will be operated as part of this partnership will connect the three ports with UAE’s Zayed Port. With future plans to include connecting with the ports of the Arabian Gulf, the Port of Aqaba, and European and Asian ports.
Earlier in December, Egypt’s RSPA signed a contract with AD ports to build and develop of a multi-purpose terminal at Safaga Sea Port with $200 million in investments over 3 years.
