AD Ports Group Signs 30-Year Agreement to Manage Aqaba Multipurpose Port

AD Ports Group (ADX: ADPORTS) has signed a historic 30-year concession agreement with Aqaba Development Corporation (ADC) to manage and operate the Aqaba Multipurpose Port, Jordan's only and exclusive general cargo and multipurpose seaport. The agreement establishes a Joint Venture with AD Ports Group holding 70% ownership and ADC holding the remaining 30%. AD Ports Group will invest a total of AED 141 million (USD 38.4 million) in the Joint Venture, bringing extensive port development and operational expertise. The Group anticipates formally assuming operations in August 2026. The signing ceremony was held at the headquarters of the Aqaba Special Economic Zone Authority (ASEZA) in Aqaba, in the presence of Counselor Hamad Al Matrooshi, Chargé d'Affaires of the UAE Embassy in Amman; H.E. Mr. Shadi Majali, Chief Commissioner of ASEZA; and Captain Mohamed Juma Al Shamisi, Managing Director & Group CEO of AD Ports Group. The Port of Aqaba is situated at the crossroads of three continents and is Jordan's dominant gateway for foreign trade, handling about 80% of the country's exports and 65% of its imports. The port has an annual handling capacity of 11 million tonnes, supported by nine berths, a quay length of 2 km, and a draft of 13.5 metres. H.E. Mr. Shadi Majali commented: "This strategic partnership represents a key milestone in advancing Aqaba's role as a competitive and integrated economic zone. The development of the Aqaba Multi-Purpose Port reinforces ASEZA's mandate to create an enabling regulatory and investment environment." With this addition, AD Ports Group expands its global portfolio to 35 ports and terminals spanning the UAE, Jordan, Spain, Egypt, Pakistan, Kazakhstan, Tanzania, Angola, and the Republic of the Congo.