Abu Dhabi Ports to invest $500M in Egypt

CAIRO – 8 November 2021: CEO of Abu Dhabi Ports, Mohamed Gomaa El-Shamsy announced Monday that his Company plans to invest $500 million in Safaga and the 10th of Ramadan in Egypt, according to Al Arabiya.

Abu Dhabi Ports Company recorded a growth in revenues of 21 percent during the first half of 2021, to reach 1.832 billion dirhams, compared to 1.517 billion dirhams during the first half of 2020.

In September 2021, Abu Dhabi Ports Company signed a concession agreement with a French company to invest 570 million dirhams.

The Abu Dhabi government-owned holding company said in September 2021 that it intends to list Abu Dhabi Ports on the Abu Dhabi Stock Exchange before the end of 2021.

Abu Dhabi Ports announced during the "Egypt Government Excellence" conference in July 2018 that it was working on 42 projects to boost its business growth and enter new markets, including Saudi Arabia, the Red Sea region, China, India and Africa.

Abu Dhabi Ports is one of the main drivers of trade, industry and logistics in the region and it forms a link between Abu Dhabi and all over the world.

It includes a number of main business sectors: the ports sector, the industrial cities sector, the free zone, the maritime sector, the logistics sector, and the digital sector. Its portfolio includes 11 ports and stations in the UAE and Guinea, in addition to more than 550 square kilometers of industrial areas within each of the Khalifa Industrial City and ZonesCorp, which together form the largest commercial, logistics and industrial complex in the Middle East.