AD Ports in talks over developing Egypt’s Suez Port

This contract marks the Emirati group’s third to operate ports in Egypt, the sources said

Staff Writer, Arab Finance

January 11, 2023

PHOTO

AD Ports Group is in talks with the Egyptian government over the development and operation of the Suez Port, known as Port Tawfiq, as per a usufruct contract, two sources familiar with the matter told Asharq Business on January 10th.

This contract marks the Emirati group’s third to operate ports in Egypt, the sources said.

AD Ports, backed by the Abu Dhabi Developmental Holding Company (ADQ), has not responded to these claims.

The Sovereign Fund of Egypt (TSFE), which takes part in the negotiations, has not made any comments regarding the matter as well.

Located on the coast of the Red Sea, Port Tawfiq is one of the Egyptian ports affiliated to the Red Sea Ports Authority.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.