Mubasher: The UAE's AD Ports Group has signed a memorandum of understanding (MoU) with the Egyptian Group for Multipurpose Terminals (EGMPT) to develop and operate a multipurpose terminal in the Egyptian Red Sea port of Safaga.   

The MoU was signed by the Head of Ports Cluster at AD Ports Group, Saif Al Mazrouei, and the Chairman of the EGMPT, Abdul Qadir Darwish, on the sidelines of the fourth Smart Transport, Logistics & Traffic Fair & Forum for the MEA Region (TransMEA 2021), held under the patronage of Egypt's President Abdel Fattah El-Sisi, according to a statement on Tuesday. 

"Under the MoU, AD Ports Group will explore investment opportunities and conduct feasibility and local market studies related to developing and operating a multipurpose terminal in Safaga Port, with both parties benefitting from the exchange of expertise and best practices," the statement showed. 

The MoU will support the growth of the Middle East’s industrial and logistics sectors and help in opening new markets for Egyptian exports through direct maritime routes across the Arabian Gulf, East Asia, and Africa regions. It will also facilitate commercial activities operating within the Golden Triangle and Upper Egypt.