{"id":74242,"date":"2023-10-18T00:00:00","date_gmt":"2023-10-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/10\/18\/egypts-house-approves-bill-handing-an-ad-ports-led-consortium-a-30-year-contract-for-safaga-port\/"},"modified":"2023-10-18T00:00:00","modified_gmt":"2023-10-18T00:00:00","slug":"egypts-house-approves-bill-handing-an-ad-ports-led-consortium-a-30-year-contract-for-safaga-port","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/10\/18\/egypts-house-approves-bill-handing-an-ad-ports-led-consortium-a-30-year-contract-for-safaga-port\/","title":{"rendered":"Egypt\u2019s House approves bill handing an AD Ports-led consortium a 30-year contract for Safaga Port"},"content":{"rendered":"

O<\/strong>ne step closer to developing Safaga Port:<\/strong> Egypt\u2019s House of Representatives has given final approval for an AD Ports-led consortium to develop and manage Safaga Port, according to a parliament statement<\/a>. The draft bill will give the consortium, which also includes Golden Anchor Ships Operator<\/a> and Silver Anchor Facilities Management, the right to develop, build, manage, and operate the Safaga Port for 30 years through the Safaga Stations Operating Company. <\/p>\n

The details:<\/strong> The Safaga 2 terminal<\/a> is expected to kick off operations in 2Q 2025, handling some 5 mn tons of dry bulk, 1 mn tons of liquid bulk, 450k TEUs of containerized cargo and 50k car-equivalent units (CEUs) of roll-on, roll-off cargo. The port currently has a maximum capacity of 6.37 mn tons per year. ADP will spend USD 200 mn on \u201csuperstructure and equipment, buildings, and other real estate facilities and utilities\u2019 network inside the concession area,\u201d most of which will be spent in 2024 and 2025.<\/p>\n

What\u2019s next?<\/strong> The bill will now be sent to President Abdel Fattah El Sisi to be ratified into law. <\/p>\n

The development aims to increase Egypt\u2019s transit trade<\/strong> and boost competitiveness against ports in neighboring countries, according to the statement. The development also aims to help the private sector improve its performance at the port and provide more jobs. <\/p>\n

About the port: <\/strong>The port, situated on the coast of the Red Sea over an area of 60 km2, has deep drafts to receive large vessels, according to the Maritime Transport Sector<\/a>. The port can handle 2.2 mn tons of general cargo and 4.14 mn tons of dry bulk, and functions 24 hours a day, according to the Maritime Transport sector.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company will spend USD 200 mn on superstructure and equipment, buildings, and other real estate facilities and utilities network<\/p>\n","protected":false},"author":1,"featured_media":74243,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[190],"tags":[17,549,123,21],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-74242","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shipping-maritime","tag-enterprise-logistics","tag-port","tag-shipping-maritime","tag-zones","wpautop","entry"],"acf":{"mongo_id":"abf958af-05f5-4b6c-b06c-5daa0e711bb9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/10\/846.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt\u2019s 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