AD Ports in talks over developing Egypt’s Suez Port - Zawya
AD Ports Group is in talks with the Egyptian government over the development and operation of the Suez Port, known as Port Tawfiq, as per a usufruct contract, two sources familiar with the matter told Asharq Business on January 10th, according to Zawya.
This contract marks the Emirati group’s third to operate ports in Egypt, the sources said.
AD Ports, backed by the Abu Dhabi Developmental Holding Company (ADQ), has not responded to these claims.
The Sovereign Fund of Egypt (TSFE), which takes part in the negotiations, has not made any comments regarding the matter as well.
Located on the coast of the Red Sea, Port Tawfiq is one of the Egyptian ports affiliated to the Red Sea Ports Authority.
