Egypt signs deal with Abu Dhabi's AD Ports Group on multipurpose port terminal

Egypt's transport ministry signed an agreement with Abu Dhabi's AD Ports Group to manage and operate a multipurpose terminal in the Red Sea port of Safaga, the Egyptian transport minister said on Saturday.

The agreement is pending further approvals, said Saif Al Mazrouei, head of ports cluster at AD Ports. Al Mazrouei did not disclose the cost or investment.