Abu Dhabi’s AD Ports Group to invest $200 mln in Egypt’s Safaga Port

Abu Dhabi’s AD Ports Group signed a 30-year concession settlement
value $200 million to develop and function Egypt’s Safaga port,
in line with an announcement launched by AD Ports on Saturday, Development experiences citing Al
Arabiya.

Two extra 15-year agreements, a memorandum of understanding
and three head phrases regarding ports situated in Egypt’s Pink Sea
area and Mediterranean Sea had been additionally signed, the assertion
stated.

“AD Ports Group will make investments a complete of as much as $200 million in
superstructure and gear, buildings, and different actual property
amenities and utilities’ community contained in the concession space. The
majority of this CapEx shall be spent in 2024 and 2025,” the
assertion added.