Abu Dhabi firm to create new shipping terminals, cruise lines for Egypt
Egypt is seeking to increase revenues from its ports as the economy struggles.
A major Abu Dhabi-based company has agreed to help Egypt develop some of its ports.
AD Ports Group signed two agreements yesterday with the Red Sea Ports Authority. The first stipulates that AD Ports Group will develop, operate and manage a terminal in Port Safaga on the Red Sea. The terminal will include 1,000-meter (3,280-foot) docking sections capable of handling large cargo. The joint venture will provide an array of services to the terminal including traffic management, fire prevention and handling of hazardous materials, AD Ports Group said in a press release.
