By
Laura Hyde |
Abu Dhabi Ports Group is to invest $3 million in the Egyptian cruise industry over the next 15 years after signing a concession agreement with the Red Sea Port Authority (RSPA).
The 15-year agreement will see AD Ports Group operate and manage the cruise terminals at Safaga, Hurghada, and Sharm El Sheikh ports, the latter of which also will be renovated. AD Ports Group will provide new services and improve access for cruise operators. It will also add new itineraries, which it hopes will increase cruise business and passenger numbers in the Red Sea region.
“This agreement is a testament to our commitment to fostering tourism in the Red Sea region, as well as strengthening the existing ties between the United Arab Emirates and Egypt,” said Ahmed Al Mutawa, regional CEO of AD Ports Group. “With an investment of $3 million, AD Ports Group is poised to boost cruise tourism in the Red Sea, bringing world-class services and facilities to these ports, whilst supporting economic growth for Egypt.”
AD Ports Group and RSPA recently signed a definitive concession agreement for the development and operation of a multi-purpose terminal at Safaga Sea Port, an investment of $200 million over three years.