AD Ports Group Secures 30-Year Aqaba Multipurpose Port Concession

AD Ports Group has signed a 30-year concession agreement with Aqaba Development Corporation (ADC) to manage and operate the Jordan===Aqaba Multipurpose Port, Jordan's sole general cargo and multipurpose seaport. This agreement establishes a joint venture where AD Ports Group will hold 70% ownership and ADC the remaining 30%. AD Ports Group will invest AED141 million ($38.4 million) and bring its extensive port development and operational expertise. The group anticipates formally assuming operations in August. This marks AD Ports Group's largest infrastructure investment in Jordan to date and is part of a broader strategy to develop Jordan===Aqaba's tourism, transport, logistics, and digital trade infrastructure, including the Jordan===Aqaba Cruise Terminal and the Maqta Ayla Joint Venture. The Port of Jordan===Aqaba is crucial for Jordan's foreign trade, handling a significant portion of its exports and imports, and serves as a key transit point for Saudi Arabia and Iraq. This partnership is expected to enhance Jordan===Aqaba's attractiveness as a regional logistics, industrial, and tourism hub.