AD Ports Group secures $115 million financing led by IFC, NBK – Egypt to advance Safaga Terminal in Egypt

AD Ports Group has finalised a $115 million project finance facility to support the development of the Noatum Ports - Safaga Terminal in Egypt, reinforcing the Group’s long-term commitment to expanding critical port and logistics infrastructure across its key focus international markets.

The funding, backed by the International Finance Corporation (IFC) with participation from National Bank of Kuwait - Egypt (NBK - Egypt) and other institutional investors through the IFC managed co-lending portfolio program, carries a 15-year tenor and reflects strong international confidence in AD Ports Group’s operational delivery and Egypt’s strategic role in the global supply chain.

The financing has received the required approvals and financial close is expected to occur in Q1 2026, subject to the satisfaction of customary condition precedents.

The funding agreement supports the Group’s strategy to utilise long-term, multilateral-backed financing to support the delivery of strategic, international long-dated infrastructure assets in emerging markets.

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said, “This IFC-backed project finance facility reflects our prudent approach to funding long-term infrastructure assets in emerging markets through multilateral and institutional partnerships. The participation of IFC, NBK - Egypt, and other international investors supports the development of the Noatum Ports - Safaga Terminal and reinforces our growing presence in Egypt, a market of strategic importance to the global supply chain. Guided by the vision of the UAE’s wise leadership, we remain focused on delivering resilient, infrastructure assets that enhance connectivity, support sustainable economic growth, and create long-term value for our stakeholders.”

Makhtar Diop, Managing Director, IFC, said, "Enhancing trade is key to stimulating economic development, this transaction demonstrates how IFC can be a strategic enabler for South-South investments. The project will strengthen Egypt’s position as a central trade hub, lower costs for local businesses and create high-quality jobs, while also reinforcing the UAE’s position as a regional growth engine and a partner for deeper economic integration.”

Yasser El Tayeb, Vice Chairman, CEO & Managing Director, NBK – Egypt, said: “This landmark financing underscores NBK - Egypt’s commitment to supporting strategic infrastructure projects that drive sustainable economic growth along with having environmental impact reducing the CO2 emissions. Our collaboration with IFC and AD Ports Group reflects our confidence in Egypt’s logistics sector and its long-term potential.”

The $200 million Noatum Ports - Safaga Terminal, is located on Egypt’s Red Sea coast, and poised to be the first internationally operated port terminal in the Upper Egypt region.

The terminal forms part of AD Ports Group’s broader strategy to build and operate high-performance port assets across high-growth trade corridors, particularly in Egypt, which has become one of the Group’s most important international markets.

AD Ports Group’s investments in Egypt include container shipping, terminal and stevedoring activities as well as maritime agency and cargo services. The Group is also developing cruise terminals in the Red Sea ports of Safaga, Hurghada, and Sharm El Sheikh. In 2025, the Group further expanded its portfolio through a 50-year renewable usufruct agreement to develop and operate KEZAD East Port Said, a 20 km² industrial and logistics park at the Mediterranean gateway of the Suez Canal.

Reinforcing its position as a key facilitator of trade across the Mediterranean and Red Sea regions, AD Ports Group has recently acquired a 19.328% equity stake in Alexandria Container & Cargo Handling Company (ALCN), one of Egypt’s largest container terminal operators.

The Group has also recently announced its intention to launch a cash Mandatory Tender Offer to acquire an additional stake in ALCN, which would result in majority ownership and control of the company. ALCN operates two strategic Mediterranean terminals at the ports of Alexandria and El-Dekheila, complementing the Group’s expansion in Egypt while generating tangible financial returns.

WAM