RIYADH: Abu Dhabi-based AD Ports Group has closed $2 billion worth of corporate funding facility with a syndicate of 13 regional and international banks in better pricing terms as the banking sector showed potent trust in the A+ credit-rated logistics firm. With a tenure of up to two and a half years, the facility is split into three multi-currency tranches – €600 million
AD Ports Group has signed a concession agreement with Egyptian government to develop and operate a multi-purpose port in Safaga region in addition to sealing of two 15-year agreements for ports located in the Red Sea and the Mediterranean Sea.