Abu Dhabi UAE-based company AD Ports Group and Egypt's Red Sea Ports Authority (RSPA) have finalized a definitive concession agreement to develop, operate, and manage 3 cruise terminals at the ports of Safaga, Hurghada, and Sharm El Sheikh.
AD Ports Group will invest a total of US$4.7 million over the next 15 years to manage and operate these terminals, which are expected to become operational in 2025.
The concession agreement includes the provision of new services, enhancement of access for cruise operators, and the introduction of new itineraries. These terminals will join the AD Ports Group’s network in the Red Sea.
This agreement builds on a previous definitive concession agreement signed in December 2023 between AD Ports Group and RSPA for the development and operation of a multi-purpose terminal at Safaga Port.
This facility is anticipated to be the first internationally-operated port serving the Upper Egypt region, with an investment of US$200 million over 3 years.