Abu Dhabi – Mubasher: AD Ports Group has appointed Hassan Allam Construction, Hassan Allam Holding’s flagship subsidiary and one of the leading contractors in the MENA region, to build the infrastructure of Noatum Ports - Safaga Terminal on Egypt’s Red Sea coast.
The development project will be the first internationally operated port terminal in the Upper Egypt region, according to a press release.
The terminal’s area will include approximately 810,000 square metres, with 450,000 TEUs container capacity, 5 million tonnes of dry bulk, and general cargo capacity. It will also handle 1 million tonnes liquid bulk capacity, Ro-Ro facilities with 50,000 CEUs capacity, as well as common areas.
Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports, said: “We are delighted to sign this construction agreement today with Hassan Allam Construction to build Noatum Ports – Safaga Terminal, which will create a new source of economic growth for the people in the region, in line with the wise vision of our leadership in the UAE.”
Hassan Allam, CEO of Hassan Allam Holding, said: “We welcome this opportunity to work with AD Ports Group [..]to deliver Noatum Ports – Safaga Terminal, which will be a key addition to Egypt’s maritime and ports infrastructure on the Red Sea.”
The terminal is part of around $349 million in investments made by the UAE-based group in Egypt over the last three years. The two parties inked a 15-year agreement to develop and operate three cruise terminals in the Red Sea region.
Earlier this year, Noatum acquired a majority stake in Egypt’s maritime provider Safina B.V.
The UAE is Egypt’s second-largest trading partner, with $9.60 billion invested in the Arab Republic in 2023, according to the Egyptian Commercial Service (ECS).
In February, the two countries signed a major agreement, under which the UAE is committed to investing $35 billion to develop the Ras El-Hekma coastal region.
