Abu Dhabi Ports Group to Sign 30-Year Agreement to Manage Safaga Port

The UAE’s Abu Dhabi Ports Group is on track to finalise a 30-year concession agreement with the Egyptian government for the management and operation of Safaga Port on the Red Sea.

The agreement, originally signed in March, is part of a partnership between the Egyptian Suez Canal Economic Zone (SCZONE) and Abu Dhabi Ports Group, encompassing the approval of multiple projects to be implemented within the zone. The group's ongoing projects in Egypt encompass various locations, including Ain Sokhna, Sharm El-Sheikh, and Hurghada.

Abu Dhabi Ports reports that the multi-purpose terminal at Safaga Port will mark the first internationally operated port in Upper Egypt, promising significant cost savings for traders, industries, and businesses in the region.

The 810,000-square-metre terminal is expected to commence operations in the second quarter of 2025. The agreement aligns with a nationwide vision aimed at promoting and incentivizing foreign investment in Egypt.