AD Ports Group signs deal to launch logistics and freight joint ventures in Uzbekistan

Ports operator will also support Enter Engineering Group ’s work on tenders in the UAE

AD Ports Group is expanding operations worldwide. Photo: AD Ports Group
Powered by automated translation

AD Ports Group, which operates industrial cities and free zones in Abu Dhabi, signed a preliminary agreement with Enter Engineering Group to launch new logistics and freight businesses in Uzbekistan.

As part of the agreement, the two companies will establish joint venture companies to manage logistics and freight forwarding services, including air, sea, land and rail logistics, warehousing, contract logistics and customs clearance, AD Ports Group said in a statement to the Abu Dhabi Securities Exchange, where its shares are traded.

AD Ports Group will also "support Enter Engineering Group’s work on tenders in the UAE, with a particular focus on the energy sector", the statement said.

No further details about the deal were provided.

Enter Engineering is one of the largest engineering, procurement and construction contractors in Uzbekistan, specialising in the oil and gas industry, according to its website.

AD Ports Group, which made its debut on the ADXin February after raising Dh4 billion ($1.1bn) from the sale of its shares, is expanding operations worldwide.

In March, it signed two new deals to develop and operate ports in Egypt, boosting the maritime sector in the Arab world's most populous country.

It also entered a deal with the Egyptian Group for Multipurpose Terminals last November to develop and operate a multipurpose terminal at Safaga port on the Red Sea, and struck an agreement in September with the General Company for Ports of Iraq to explore investment opportunities in the country.

AD Ports Group also signed several partnership agreements with Jordan's Aqaba Development Corporation in December to develop tourism, transport, logistics and digital infrastructure in the area.

Established in 2006, AD Ports Group owns and operates 10 ports in the UAE, including Khalifa Port, Zayed Port, Mussaffah Port, Fujairah Terminals, Community Ports, Kamsar Port and the Abu Dhabi Cruise Terminal, as well as a terminal in Guinea.

It also manages more than 550 square kilometres of industrial zones and an end-to-end logistics business, besides offering a range of maritime services.

ADQ, one of the region’s largest holding companies, is the majority shareholder in AD Ports Group, with a 75.42 per cent stake in the listed entity.

Updated: June 09, 2022, 11:42 AM