AD Ports has signed a Memorandum of Understanding (MoU) with the Egyptian Ministry of Industry and Transport to jointly build and operate an integrated logistics park in Alexandria, Egypt.
The signing took place on 22 January in Cairo in the presence of His Excellency Lieutenant General Engineer Kamel Al Wazir, Egyptian Minister of Industry and Transport; Her Excellency Mariam Al Kaabi, UAE Ambassador to the Arab Republic of Egypt; and Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of Ad Ports Group.
Ahmed Al Mutawa, Regional CEO of AD Ports Group, signed the agreement alongside Amr Ahmed Moustafa, Executive Managing Director of the Holding Company for Maritime and Land Transportation (HCMLT), an affiliate of Egypt’s Ministry of Transportation.
AD Ports Group will work with HCMLT to construct, manage, and operate a 1.1 square kilometre Integrated Logistics Area at Alexandria Port, which will be one of the major logistics centres on the Mediterranean Sea.
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According to government figures, the port handles over 60 per cent of Egypt’s international commerce.
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said: “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.’’