Abu Dhabi Ports Group is set to inject US$3 million into the Egyptian cruise industry over the next 15 years, following a concession agreement with the Red Sea Port Authority (RSPA).
Under this 15-year agreement, the Group will take charge of operating and managing the cruise terminals at the Egyptian ports Safaga, Hurghada, and Sharm El Sheikh, with a particular focus on renovating the latter. The Group aims to enhance services, facilitate access for cruise operators, introduce new itineraries, and ultimately stimulate growth in cruise business and passenger numbers across the Red Sea region.
Ahmed Al Mutawa (Group's regional CEO) emphasized the commitment to bolstering tourism in the Red Sea region and fortifying ties between the United Arab Emirates and Egypt. With a dedicated investment of US$3 million, the AD Ports Group aims to elevate cruise tourism in the Red Sea, delivering world-class services and facilities to these ports while contributing to Egypt's economic growth.
This development follows the recent signing of a definitive concession agreement between AD Ports Group and RSPA for the development and operation of a multi-purpose terminal at Safaga Sea Port, involving an investment of US$200 million over 3 years.