ADQ-owned Abu Dhabi Ports Company is in talks with the Madbouly government to take over the development and management of the Suez Port, Bloomberg Asharq reports citing anonymous sources it claims are familiar with the conversations. ADP would run the port under a usufruct contract.

Third port’s a charm: ADP has been pushing aggressively into Egypt’s maritime sector. The company was selected in March to build and run a terminal at the port of Sokhna and is bidding to build a new terminal at Safaga port. ADP also acquired a 70% stake in local shipping and logistics firm International Associated Cargo Carrier in September last year for USD 140 mn.

ADP isn’t the only GCC-based company that has its sights set on our ports: Dubai’s DP World signed an agreement to build a USD 80 mn logistics zone at Ain Sokhna Port.

Meanwhile, Qatar’s sovereign wealth fund is interested in Safaga port, with the Qatar Investment Authority reportedly in talks with the Madbouly government late last year to develop and manage the port under a 25-year contract.

The government has been keen to emphasize that the nation’s ports are not up for sale: Amid a backlash from some opposition MPs over the government’s privatization plans, Transport Minister Kamel El Wazir has reiterated that the government is not selling ports, but rather entering partnerships with both local and foreign private-sector players to manage and operate them.