Egypt Signs 30-year Concession Agreement with AD Ports to Operate Safaga Port

Egypt’s minister of transport and the ambassador of the UAE witness the signing of agreements in maritime transport on Saturday in Cairo. (Asharq Al-Awsat)
Egypt’s minister of transport and the ambassador of the UAE witness the signing of agreements in maritime transport on Saturday in Cairo. (Asharq Al-Awsat)
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Egypt Signs 30-year Concession Agreement with AD Ports to Operate Safaga Port

Egypt’s minister of transport and the ambassador of the UAE witness the signing of agreements in maritime transport on Saturday in Cairo. (Asharq Al-Awsat)
Egypt’s minister of transport and the ambassador of the UAE witness the signing of agreements in maritime transport on Saturday in Cairo. (Asharq Al-Awsat)

Egypt's transport ministry signed on Saturday several agreements in maritime transport with AD Ports Group to manage, operate, and maintain the port of Safaga, and to allow for expanded access to multipurpose terminals and cruise routes in Hurghada and Sharm El Sheikh.

AD Ports Group signed a 30-year concession agreement worth $200 million to develop and operate Egypt's Safaga port, according to a statement released by AD Ports on Saturday.

Two additional agreements and four head terms concerning ports located in Egypt's Red Sea region and the Mediterranean Sea were also signed, the statement said.

"AD Ports Group will invest a total of up to $200 million in superstructure and equipment, buildings, and other real estate facilities and utilities’ network inside the concession area," the statement added.

Furthermore, two 15-year agreements for the development of two cement terminals in Al Arish Port and West Port Said Port were signed between AD Ports Group and the General Authority for the Suez Canal Economic Zone requiring a combined investment of around $33 million.

AD Ports Group will construct silos with a storage capacity of up to 60,000 tons in Al Arish Port and 30,000 tons in West Port Said.

Each terminal will be able to handle 1-1.5 million tons annually.

Both terminals, which will be operational in Q4 2023, are expected to contribute to doubling Egypt's cement exports to global markets.

Egyptian Minister of Transport of Egypt Kamel al-Wazir affirmed that this contract is the beginning of a huge cooperation plan between the ministry and AD Ports Group to carry out several projects in logistics services in Egypt.

The multipurpose terminal in Safaga Port will be developed over an approximate area of 810,000 square meters and it will boast a quay wall of up to 1,000 meters.

The agreements were signed in Cairo in the presence of Lieutenant-General Kamel al-Wazir and Mariam Al Kaabi, Ambassador of the UAE to Egypt.

Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, and Major General Osama Saleh, Vice-Chairman of the Board of Directors of the Red Sea Port Authority, signed the agreement.



Saudi's flynas Strikes Deal for Additional Airbus A320neos, 15 A330s

Saudi's flynas strikes deal for additional Airbus A320neos, 15 A330s (flynas)
Saudi's flynas strikes deal for additional Airbus A320neos, 15 A330s (flynas)
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Saudi's flynas Strikes Deal for Additional Airbus A320neos, 15 A330s

Saudi's flynas strikes deal for additional Airbus A320neos, 15 A330s (flynas)
Saudi's flynas strikes deal for additional Airbus A320neos, 15 A330s (flynas)

flynas, Saudi Arabia’s leading low-cost carrier, has signed a Memorandum of Understanding (MoU) with Airbus for 75 A320neo family aircraft and 15 A330-900. This strategic agreement will expand the airline's capacity, range and enhance its overall fleet capabilities.
Signed during Farnborough International Airshow in the presence of President of the General Authority of Civil Aviation (GACA) of Saudi Arabia, Abdulaziz bin Abdullah Al-Duailej, Chairman of the Board of NAS Holding Ayed Al Jeaid, flynas Chief Executive Officer & Managing Director Bandar Almohanna, and Airbus Chief Executive Officer, Commercial Aircraft, Christian Scherer, Airbus said on its website.
The new aircraft will join the carrier’s all Airbus fleet serving international, domestic and regional routes. The new A330-900 aircraft will boast a two-class configuration, accommodating up to 400 passengers.
"We are excited to further strengthen our long-standing partnership with Airbus," said Bander Almohanna, CEO and Managing Director of flynas. "The A320neo Family provides exceptional operational performance and environmental benefits, allowing us to offer unique, low-cost travel experiences. Additionally, the A330neowill enhance our long-haul capabilities with its advanced technology and efficiency while supporting our growth plans and Saudi Arabia’s pilgrim program."
Airbus Chief Executive Officer, Commercial Aircraft, Christian Scherer said, "We are delighted to expand our partnership with flynas through this significant milestone for both A320neo and A330-900 aircraft. The A330neo will allow flynas to further grow into widebody markets by building on the A320, benefiting from Airbus’ unique commonality. Both aircraft types offer flynas the perfect versatility and economics to expand into new markets while offering their passengers the latest cabin experience and comfort. We look forward to continuing our successful collaboration with flynas as they embark on this exciting new chapter."
The addition of the A330-900 aircraft will support flynas' ambitious growth plans. The airline anticipates significant operational efficiency gains by combining the new widebody aircraft with its existing A320neo fleet. The A330-900 offers increased capacity and range at unrivaled seat costs, ensuring flynas can compete effectively in the growing regional market, a key focus area for the airline.
The A330neo delivers unbeatable operating economics, powered by the latest-generation Rolls-Royce Trent 7000 engines, featuring new wings and a range of aerodynamic innovations resulting in a 25 percent reduction in fuel consumption and CO₂ emissions compared to previous generation competitor aircraft. The A330neo is capable of flying 8,150 nm / 15,094 km non-stop, providing ultimate comfort with more passenger space, a new lighting system, latest in-flight entertainment systems and full connectivity throughout the cabin.
As with all Airbus aircraft, the A330 family is already able to operate with up to 50% Sustainable Aviation Fuel (SAF). The manufacturer is targeting to have its aircraft up to 100% SAF capable by 2030.