Abu Dhabi Ports Negotiates Developing Suez Port

Abu Dhabi Ports Negotiates Developing Suez Port

Abu Dhabi Ports is in talks with the Egyptian government for the development and management of the Suez Port under a usufruct agreement, informed sources say, Invest-Gate reports.

The Suez Port is an Egyptian port affiliated with the Red Sea Ports Authority and is located at the Red Sea coast.

AD Ports develops and manages Ain Sokhna port with investments of up to $1.2 bn.

Th company acquires 70% of Transmar and Transcargo Egyptian companies for $140 mn in July 2022.

In September 2022, AD Ports completed the acquisition of a 70% equity stake in Transmar International Shipping Company and Transcargo International (TCI) for AED 514 mn.

The acquisitions of the two Egypt-based maritime companies provide AD Ports Group with a market-leading platform for further growth in the container, cargo, and port operations in Egypt, North Africa, and GCC regions, as well as along the entire Red Sea.

In 2021, AD Ports Group expanded its global footprint significantly, unveiling new investments and partnerships in markets on key trade routes for the UAE, including Jordan, Uzbekistan, Tanzania, and Egypt.


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