Cairo, Egypt / Abu Dhabi, UAE – 18 December 2024: AD Ports Group (ADX: ADPORTS), a leading facilitator of global trade, logistics and industry, today appointed Hassan Allam Construction, Hassan Allam Holding's flagship subsidiary and one of the leading contractors in Egypt and the MENA region, to build the infrastructure of Noatum Ports - Safaga Terminal on Egypt's Red Sea coast, which will be the first internationally operated port terminal in Upper Egypt region.

The terminal's area will encompass approximately 810,000 square metres, with 450,000 TEUs container capacity, 5 million tonnes dry bulk and general cargo capacity, 1 million tonnes liquid bulk capacity, Ro-Ro facilities with 50,000 CEUs capacity, as well as common areas. The multiple facilities will include administration buildings, workshops, warehouses, and authority buildings, along with extensive infrastructure development including roads, utilities and security systems.

The project will feature a 48,000 square metre concrete apron, an 80,354 square metre container terminal with supporting infrastructure, and approximately 66,360 square metres for general cargo and break-bulk operations.

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, 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, one of the fastest growing trade, transport and logistics groups in the Middle East, to deliver Noatum Ports – Safaga Terminal, which will be a key addition to Egypt's maritime and ports infrastructure on the Red Sea. With our track record of more than 90 years, Hassan Allam Holding looks forward to delivering this large-scale, strategically important project for Egypt.'

The terminal is part of approximately USD 349 million in investments made by the Group in Egypt over the last three years, which includes the purchases of maritime companies Transmar, TCI and Safina, the planned construction of a Ro-Ro terminal in Ain Sokhna, and long-term concessions to develop and operate cruise terminals in Safaga, Hurghada, Ain Sokhna and Sharm El-Sheikh.

The UAE is Egypt's second-largest trading partner and its biggest international investor, according to the Egyptian Commercial Service (ECS), with USD 9.6 billion invested in the country in 2023. The UAE had a trade volume of AED 25.2 billion (USD 6.9 billion) with Egypt in 2023, according to the UAE Ministry of Economy.

Over 1,600 Emirati companies are present in Egypt. In February 2024, the two countries signed a landmark agreement that will see the UAE invest USD 35 billion to develop the Ras El-Hekma coastal region, 350 km northwest of Cairo.