AD Ports Group signed a term sheet and head of terms agreement with the Red Sea Ports Authority for major port projects that will be established along the coast of Egypt
Under the first agreement, AD Ports will develop, operate, and manage a multipurpose terminal in Safaga seaport in a consortium with the Red Sea Ports Authority and the Egyptian Group for Multipurpose Terminals Company, according to a press release on Thursday.
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Meanwhile, the second agreement focuses on the establishment, operation, and management of cruise ship berths and terminals at Sharm El Sheikh, Hurghada, and Safaga ports.
AD Ports will also set plans for cruise ship lines linking Abu Dhabi, Hurghada, Sharm El Sheikh, and Aqaba.
