Deal to manage and operate Aqaba Multipurpose Port in Jordan
AD Ports Group recently signed a 30-year concession agreement with Aqaba Development Corporation (ADC) to manage and operate the Aqaba Multipurpose Port, Jordan’s only and exclusive general cargo and multipurpose seaport, strengthening the Group’s investments in the coastal city’s logistics infrastructure.
Under the terms of the agreement, AD Ports Group will invest a total of AED 141mn (US$ 38.4mn) in the Joint Venture, in addition to bringing extensive port development and operational expertise to the transaction. The Group anticipates to formally assume operations of the port in August of this year.
The signing ceremony was held at the headquarters of the Aqaba Special Economic Zone Authority (ASEZA) in Aqaba, in the presence of Counselor Hamad Al Matrooshi, Chargé d’Affaires of the UAE Embassy in Amman; Shadi Majali, Chief Commissioner, Aqaba Special Economic Zone Authority; and Captain Mohamed Juma Al Shamisi, Managing Director & Group CEO, AD Ports Group.
The agreement was signed by Hussein Safadi, CEO, Aqaba Development Corporation; and Ahmed Al Mutawa, Regional Chief Executive Officer, AD Ports Group.
Agreement
“This agreement aligns with the directives of our wise leadership to strengthen cooperation with the Hashemite Kingdom of Jordan and to support the Kingdom’s vision of transforming the Port of Aqaba into a leading commercial gateway in the Red Sea region,” stressed Capt. Al Shamisi.
“This strategic partnership represents a key milestone in advancing Aqaba’s role as a competitive and integrated economic zone,” remarked Majali.
“This collaboration strengthens Aqaba’s ecosystem across logistics, tourism and port services, we are pleased to welcome this important step forward with AD Ports Group,” commented Safadi.
