AD Ports Group signs Egypt MoU for Alexandria Port operation

WAM

AD Ports Group and the Egyptian Ministry of Industry and Transport have signed a Memorandum of Understanding (MoU) to explore logistics infrastructure collaborations in Alexandria.

The signing took place in Cairo in the presence of Lieutenant General Engineer Kamel Al Wazir, Egyptian Minister of Industry and Transport, and Mariam Al Kaabi, UAE Ambassador to the Arab Republic of Egypt and Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, Ad Ports Group.

AD Ports Group will aim to develop, manage and operate 1.1 square kilometre of the Integrated Logistics Area, set to be one of the largest logistics hubs on the Mediterranean Sea, at Alexandria Port. The port accounts for about 60 per cent of Egypt’s foreign trade, according to government figures.

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said, “AD Ports Group partners with governments for the long-term development of their economies, inspired by the vision of our wise leadership. We are working with the Egyptian government to bring growth, jobs and prosperity to the people of Egypt. Today’s signing could lead to strategic infrastructure projects in the Mediterranean Sea region that would leverage Egypt’s global trade flows, driving economic growth and advancing the Group’s portfolio of value-added investments.’’

More from Business

  • Aviation sector contributes $4.1 trillion to global economy

    The UAE's Minister of Economy and Chairman of the General Civil Aviation Authority (GCAA), on Monday emphasised the aviation sector's critical role in the global economy, noting that it accounts for 12 to 13 per cent of GDP in some countries and supports millions of jobs worldwide.

  • Paris AI summit draws world leaders

    World leaders and technology executives are convening in Paris on Monday to discuss how to safely embrace artificial intelligence at a time of mounting resistance to red tape that businesses say stifles innovation.

  • 16% growth in new economic licences in Abu Dhabi during 2024

    The Abu Dhabi Registration and Licensing Authority (ADRA), which develops and regulates the business sector, on Monday revealed significant growth in business licences and compliance indicators in the Emirate's mainland and non-financial economic free zones during 2024.

  • DEWA updates billing on water consumption

    Dubai Electricity and Water Authority (DEWA) has announced that it will adopt the cubic metre as the standard unit for measuring water consumption starting from the March 2025 billing cycle.