In recent days AD Ports Group has confirmed that it has signed a definitive concession agreement with the Red Sea Ports Authority (RSPA) for the development and operation of a multi-purpose terminal at Safaga port, following approval from the Government of Egypt.
This project will see an investment of US $200 million made over three years to create the first internationally operated port serving the Upper Egypt region. The investment will cover superstructure, equipment, buildings and utilities...
https://www.themaritimestandard.com/ad-ports-concludes-safaga-concession-agreement/