AD Ports Group announced that it has signed a Memorandum of Understanding (MoU) with the Egyptian Ministry of Industry and Transport to jointly develop and operate an integrated logistics park in Alexandria.
The signing ceremony took place in Cairo in the presence of Lieutenant General Engineer Kamel Al Wazir, Egyptian Minister of Industry and Transport; Mariam Al Kaabi, UAE Ambassador to the Arab Republic of Egypt; and Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of Ad Ports Group.
Ahmed Al Mutawa, Regional CEO of AD Ports Group, signed the agreement alongside Amr Ahmed Moustafa, Executive Managing Director of the Holding Company for Maritime and Land Transportation (HCMLT), an affiliate of Egypt’s Ministry of Transportation.
AD Ports will work with HCMLT to construct, manage, and operate a 1.1 square kilometre Integrated Logistics Area at Alexandria Port, which is expected to be one of the major logistics centres in the Mediterranean. According to government data, the port handles over 60% of Egypt’s international commerce.
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports, commented: “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. 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.”
The UAE and Egypt have a deep and successful relationship, and the new agreement will further strengthen those connections. Over the previous three years, AD Ports has entered the Egyptian market by acquiring Egyptian maritime businesses Transmar, TCI, and Safina.
The Group has also obtained long-term concessions to develop and manage cruise terminals in the Red Sea ports of Safaga, Hurghada, Al Sokhna, and Sharm El-Sheikh, as well as to construct and run a multifunctional port in Safaga and a Ro-Ro terminal in Al Sokhna.
According to the Egyptian Commercial Service (ECS), Egypt’s second-largest commercial partner and largest overseas investor is the UAE, which will spend US$9.6 billion in the country by 2023.
According to the UAE Ministry of Economy, trade with Egypt was US$6.9 billion in 2023.
There are around 1,600 Emirati enterprises in Egypt. In February 2024, the two nations announced a significant deal under which the UAE would invest US$35 billion to develop the Ras El-Hekma beach area, 350 kilometres northwest of Cairo.
