AD Ports looks to add another project to its Egypt pipeline: AD Ports inked an MoU with the Transport Ministry to explore joint development and operations of a 1.1 sq km integrated logistics park in Alexandria Port, according to a statement from the Abu Dhabi sovereign wealth fund ADQ-owned company. The logistics park will be one of the largest hubs on the Mediterranean, with Alexandria Port handling approximately 60% of Egypt’s foreign trade.

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What they 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,’’ Managing Director and Group CEO Mohamed Juma Al Shamisi said.

Remember: AD Ports has invested some USD 349 mn in Egypt over the last three years when it really began to establish itself in the country. The global port operator has now acquired local logistics firms TCI and Transmar and maritime services provider Safina. It has also landed an agreement to develop, operate, and manage three cruise terminals in Hurghada, Safaga, and Sharm El Sheikh and another for a planned roll-on, roll-off ship terminal and cruise terminal in Ain Sokhna Port. The company is also looking into setting up a renewables-focused industrial zone in East Port Said.

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