AD Ports Group And Hutchison Ports Ink Mou To Form Strategic...| MENAFN.COM

Friday, 19 August 2022 09:14 GMT

AD Ports Group And Hutchison Ports Ink Mou To Form Strategic Partnership


(MENAFN- Mid-East.Info)

Collaboration to focus on enhancing operations of both organisations across the maritime and logistics sectors

Abu Dhabi, UAE: AD Ports Group, the leading facilitator of trade, logistics, and industry in Abu Dhabi, today announced that it has signed a Memorandum of Understanding (MoU) with Hutchison Ports, the world's leading port investor, developer and operator.

As per the MoU, AD Ports and Hutchison Ports will identify joint investment and business opportunities related to feedering, logistics, and port activities across the GCC, Africa, and Asia.

Additionally, the two organisations will form a partnership to operate within Tanzania, where they will work closely together to explore opportunities to further enhance the capabilities and market competitiveness of port operations across the East African country, including Dar Es Salaam Port. Potential areas of focus include improving servicing to several of Tanzania's landlocked remote areas and neighbouring countries, cultivating more cargo sources, and the enhancement of existing supporting logistics and cargo processing facilities.

Captain Mohamed Juma Al Shamisi, Managing Director & Group CEO, AD Ports Group, said:“AD Ports Group continues to expand its reach around the world, in line with the vision of our leadership, and we offer our thanks for their wise guidance. We are pleased to announce the start of a new collaboration with Hutchison Ports. As a starting point, we will work together to enhance and elevate Tanzania Port's standing as a world-leading trade hub. AD Ports Group will advance plans to develop and implement an innovative logistics, transportation, and digital port management system, as well as investing in the development of new infrastructure, such as logistics centres and new inland container depots around Dar Es Salaam Port.”

Eric Ip, Group Managing Director of Hutchison Ports , said:“Having operated in Tanzania since 2001, we are very committed to this market and its great potential. With strong support from local partners and the addition of AD Ports Group, this new partnership will certainly be greater than the sum of its parts. Together, we look forward to working closely with the Tanzania Port Authority to further develop Tanzania International Container Terminal Services as we strive to ensure Dar Es Salaam Port remains the premier gateway to the East African region.”

About AD Ports Group:

Established in 2006, AD Ports Group today serves as the region's premier facilitator of logistics, industry, and trade, as well as a bridge linking Abu Dhabi to the world. Listed on the Abu Dhabi Securities Exchange (ADX: ADPORTS), AD Ports Group's vertically integrated business approach has proven instrumental in driving the emirate's economic development over the past decade.

Operating several clusters covering Ports, Economic Cities & Free Zones, Maritime, Logistics, and Digital, AD Ports Group's portfolio comprises 10 ports and terminals, and more than 550 square kilometres of economic zones within KIZAD and ZonesCorp, the largest integrated trade, logistics, and industrial business grouping in the Middle East.

AD Ports Group is rated A+ by S&P and A+ Outlook Stable by Fitch.

About Hutchison Ports :

Hutchison Ports is the ports and related services division of CK Hutchison Holdings Limited. Hutchison Ports is the world's leading port investor, developer and operator with a network of port operations in 52 ports spanning 26 countries throughout Asia, the Middle East, Africa, Europe, the Americas and Australasia.

Over the years, Hutchison Ports has expanded into other logistics and transportation-related businesses, including cruise ship terminals, distribution centres, rail services and ship repair facilities.

In 2021, Hutchison Ports handled a combined throughput of 88 million TEU.

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