The International Finance Corporation (IFC) has announced a major partnership with Safaga Terminal Operating Company, owned by UAE-based AD Ports Group, to expand critical port infrastructure at Egypt’s Safaga Port on the Red Sea and support job creation across trade, construction, maritime and logistics sectors.
Backed by NBK Egypt (National Bank of Kuwait – Egypt), the IFC-supported financing will fund the development of a new multipurpose terminal, increasing Safaga Port’s annual container handling capacity to an estimated 450,000 TEUs. The expansion is expected to significantly strengthen Egypt’s regional and global trade connectivity.
Boosting Trade and Competitiveness
The upgraded terminal will enhance the efficient movement of key commodities, including agricultural and food products, construction materials, manufactured and industrial goods, and minerals. Improved access to modern port infrastructure is expected to lower logistics costs for businesses, particularly export-oriented industries in Upper Egypt, and deepen Egypt’s integration into global value chains.
Green, Future-Ready Infrastructure
Designed to meet international sustainability standards, the project includes electrification of container-handling equipment such as quay cranes and rubber-tyred gantry cranes, as well as measures to support a shift from road transport to short-sea shipping. These initiatives are projected to cut emissions by nearly 50,000 tonnes of CO₂ equivalent annually, supporting Egypt’s climate objectives.
Jobs and Long-Term Economic Impact
The Safaga terminal development is expected to generate direct and indirect employment during both construction and operations, while building long-term capacity in Egypt’s ports and logistics ecosystem.
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 are focused on delivering resilient infrastructure that enhances connectivity, supports sustainable economic growth and creates long-term value.”
Yasser El Tayeb, Vice Chairman, CEO and Managing Director of NBK – Egypt, said the transaction underscores confidence in Egypt’s logistics sector and its transition to lower-carbon infrastructure.
IFC Managing Director Makhtar Diop highlighted the role of South-South investment in development, noting that the project will strengthen Egypt’s position as a regional trade hub, create high-quality jobs and reduce costs for local businesses, while reinforcing the UAE’s role as a key economic partner.
Aligned With Egypt’s Development Agenda
Red Sea port activity in Egypt has been growing at an annual rate of 6.8 per cent, but capacity constraints and ageing infrastructure remain challenges. The Safaga expansion aligns with the World Bank Group’s Country Partnership Framework for Egypt, which prioritises private-sector-led job creation and green, resilient and inclusive growth.
Since 1976, IFC has invested and mobilised around $10 billion in Egypt across infrastructure, renewable energy, manufacturing, healthcare, fintech, climate finance and gender inclusion.
