UAE port operator the AD Ports Group has entered into a memorandum of understanding (MOU) with the Egyptian Ministry of Industry and Transport to explore joint development and operations of an integrated logistics Park at the Port of Alexandria on Egypt's northern coast.
Under the MOU, the AD Ports Group will pursue a collaboration with the Holding Company for Maritime and Land Transportation (HCMLT), an affiliate of the Ministry of Transportation of Egypt, to explore developing, managing and operating an integrated logistics area spanning 1.1 square kilometres at the Port of Alexandria.
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of the AD Ports Group, said that the MOU signing could lead to strategic infrastructure projects in the Mediterranean Sea region that would leverage Egypt’s global trade flows, driving economic growth and advancing the AD Ports Group's portfolio of value-added investments.
The UAE is Egypt’s second-largest trading partner and its biggest international investor, according to the Egyptian Commercial Service, with US$9.6 billion invested in the country in 2023. The UAE had a trade volume of US$6.9 billion with Egypt in 2023, according to the UAE Ministry of Economy.