AD Ports Group has signed a 30-year concession agreement with the Aqaba Development Corporation (ADC) to manage and operate the Aqaba Multipurpose Port. The port is reportedly Jordan's only and exclusive general cargo and multipurpose seaport. The agreement establishes a Joint Venture to manage and operate the port, with AD Ports holding 70 per cent ownership and ADC holding the remaining 30 per cent.
Under the terms of the agreement, AD Ports Group will invest a total of AED 141 million ($38.4 million) in the Joint Venture, in addition to bringing extensive port development and operational expertise to the transaction. The Group anticipates formally assuming operations of the port in August of this year. The signing ceremony was held at the headquarters of the Aqaba Special Economic Zone Authority (ASEZA) in Aqaba.
The deal accelerates AD Ports' strategic expansion across the Red Sea corridor and marks a milestone for the modernisation of Jordan's port infrastructure. The investment is expected to deliver tangible capacity and efficiency gains at the terminal in equipment upgrades, digitalisation and hinterland connectivity. The agreement also reflects the UAE's regional port diplomacy.
Key Takeaways:
1. AD Ports has signed a 30-year concession agreement with ADC for the Aqaba Multipurpose Port.
2. The port is positioned as Jordan's only general cargo and multipurpose seaport.
3. AD Ports will hold 70% and ADC 30% in the Joint Venture.
4. AD Ports' investment commitment stands at AED 141 million ($38.4 million).
5. Formal operations transfer is planned for August, marking strategic expansion in the Red Sea corridor.
