IFC Partners With AD Ports Group to Expand Safaga Port, Boost Jobs in Egypt

The investment is expected to generate direct and indirect employment during construction and operation, while building long-term capacity in Egypt’s port and logistics sector.

The International Finance Corporation (IFC) has announced a major partnership with Safaga Terminal Operating Company, owned by UAE-based AD Ports Group, to expand access to critical port services in Egypt and support job creation across trade, construction, maritime and logistics sectors.

The collaboration—supported by NBK Egypt (National Bank of Kuwait – Egypt)—will finance the development of a new multipurpose terminal at Safaga Port on the Red Sea, increasing the terminal’s annual container capacity to an estimated 450,000 TEUs and strengthening Egypt’s regional and global trade connectivity.

Strengthening Trade and Regional Competitiveness

The Safaga terminal expansion will improve the efficient movement of key goods, including:

• Agricultural and food products

• Construction materials

• Manufacturing and industrial goods

• Minerals

By improving access to modern port infrastructure, the project will help lower logistics costs for businesses, particularly for export-oriented industries in Upper Egypt, and support stronger integration into global value chains.

Green, Modern Port Infrastructure

The project has been designed to meet best-practice sustainability standards, including:

• Electrification of container-handling equipment such as quay cranes and rubber-tyred gantry cranes

• Support for a modal shift from road freight to short-sea shipping

These measures are expected to reduce emissions by almost 50,000 tonnes of CO₂ equivalent annually, contributing to Egypt’s climate and sustainability goals.

Creating Jobs and Long-Term Value

The investment is expected to generate direct and indirect employment during construction and operation, while building long-term capacity in Egypt’s port and logistics sector.

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, said the project reflects a disciplined approach to financing strategic infrastructure in emerging markets.

“This IFC-backed project finance facility reinforces our growing presence in Egypt, a market of strategic importance to global supply chains,” he said. “We remain focused on delivering resilient infrastructure that enhances connectivity, supports sustainable economic growth and creates long-term value.”

Strong Support From Regional and International Partners

Yasser El Tayeb, Vice Chairman, CEO and Managing Director of NBK – Egypt, said the financing demonstrates confidence in Egypt’s logistics sector.

“This landmark transaction underscores our commitment to strategic infrastructure projects that drive sustainable growth while reducing CO₂ emissions,” he said.

IFC Managing Director Makhtar Diop said the project highlights the role of South-South investment in development.

“Enhancing trade is key to economic development,” Diop said. “This project will strengthen Egypt’s position as a regional trade hub, create high-quality jobs, and lower costs for local businesses, while reinforcing the UAE’s role as a partner for deeper economic integration.”

Supporting Egypt’s Development Goals

Egypt’s port sector plays a strategic role in global trade, yet some Red Sea ports remain constrained by limited capacity and outdated infrastructure. While Red Sea port activity has been growing by 6.8 per cent annually, further investment is needed to meet rising demand and reduce bottlenecks.

The Safaga project aligns with the World Bank Group’s Country Partnership Framework for Egypt, which prioritises private sector job creation and green, resilient and inclusive growth.

Since beginning operations in Egypt in 1976, IFC has invested and mobilised around $10 billion across sectors including infrastructure, renewable energy, manufacturing, healthcare, fintech, climate finance and gender inclusion.