AD Ports Group
The AD Ports Group has signed deals with Kazakhstan’s national oil company and government to develop shipping fleets and facilities on the Caspian and Black Seas to aid growing exports.
The KazMunayGas partnership agreement will explore projects including the development of a new shallow-water fleet to support operations in the Caspian and a tanker fleet to carry Kazakh oil exports.
AD Ports has also signed a memorandum of understanding with the Ministry of Industry to develop international trade and transport corridors, including upgrading port and logistics facilities and strengthening the national maritime fleet.
The agreements expand on the shareholder agreement signed in December with Kazmortransflot, a subsidiary of KazMunayGas, to establish a joint venture that will provide offshore services to energy companies in the Caspian.
The deals were signed in the presence of UAE President Sheikh Mohamed bin Zayed and Kazakh President Kassym-Jomart Tokayev.
AD Ports Group Chairman Falah Mohammed Al-Ahbabi said the deal with KazMunayGas “aligns with the strategic priorities of the UAE and establishes a strong platform for growth in Kazakhstan and the wider region.”
AD Ports Group will also work with Abu Dhabi Maritime Academy to develop bespoke training and development programs for Kazakh teams.
Reported by Arab News (Saudi Arabia)