AD Ports Group and Hong Kong-based Hutchison Ports will explore joint investment opportunities in the maritime and logistics sector and work together to improve port operations in Tanzania.
The two companies plan to identify business opportunities in feedering, logistics and port activities across the GCC, Africa and Asia, AD Ports said in a statement on Tuesday.
They will also work together in Tanzania, where they will seek opportunities to improve the capabilities and competitiveness of the port operations across the East African country. The focus will be on improving servicing to Tanzania’s landlocked remote areas and neighbouring countries, cultivating more cargo sources and developing existing supporting logistics and cargo processing facilities, according to the statement.
“As a starting point, we will work together to enhance and elevate Tanzania port's standing as a world-leading trade hub,” said Mohamed Al Shamisi, managing director and group chief executive of AD Ports Group.
“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.”
Hutchison Ports has been operating 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,” Eric Ip, group managing director of Hutchison Ports, said.
“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.”
The port of Dar es Salaam handles more than 75 per cent of Tanzania’s trade and is a vital gateway to Tanzania, as well as eastern, central and southern Africa.
AD Ports Group, which made its debut on the ADX in February after raising Dh4 billion ($1.08bn) from its share sale, is planning to expand globally. Last month, the company said it had signed two deals to develop logistics and food trading projects in Uzbekistan.
It will also acquire a 70 per cent stake in Egypt's International Associated Cargo Carrier for Dh514 million to expand its footprint in the Arab world’s most populous country and the wider region.
The company also signed a partnership agreement with the Aqaba Development Corporation to develop tourism, logistics, transport and digital infrastructure in the Jordanian coastal city. It signed a deal with the Egyptian Group for Multipurpose Terminals in November last year to develop and operate a multipurpose terminal at Safaga Port on the Red Sea.
The ports operator is also exploring investment opportunities in Iraq after signing an agreement with the General Company for Ports of Iraq in September.
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.
Hutchison Ports, which employs more than 30,000 people, operates ports and terminals in 26 countries in Asia, the Middle East, Africa, Europe, the Americas and Australasia, according to its website.
In Africa and the Middle East, the company has operations in Egypt, Tanzania, Iraq, Oman, Saudi Arabia and the UAE.
Emergency phone numbers in the UAE
Estijaba – 8001717 – number to call to request coronavirus testing
Ministry of Health and Prevention – 80011111
Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre
Emirates airline – 600555555
Etihad Airways – 600555666
Ambulance – 998
Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries
SERIE A FIXTURES
Saturday (All UAE kick-off times)
Lecce v SPAL (6pm)
Bologna v Genoa (9pm)
Atlanta v Roma (11.45pm)
Sunday
Udinese v Hellas Verona (3.30pm)
Juventus v Brescia (6pm)
Sampdoria v Fiorentina (6pm)
Sassuolo v Parma (6pm)
Cagliari v Napoli (9pm)
Lazio v Inter Milan (11.45pm)
Monday
AC Milan v Torino (11.45pm)
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
The Book of Collateral Damage
Sinan Antoon
(Yale University Press)
The%20specs
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Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
Who has been sanctioned?
Daniella Weiss and Nachala
Described as 'the grandmother of the settler movement', she has encouraged the expansion of settlements for decades. The 79 year old leads radical settler movement Nachala, whose aim is for Israel to annex Gaza and the occupied West Bank, where it helps settlers built outposts.
Harel Libi & Libi Construction and Infrastructure
Libi has been involved in threatening and perpetuating acts of aggression and violence against Palestinians. His firm has provided logistical and financial support for the establishment of illegal outposts.
Zohar Sabah
Runs a settler outpost named Zohar’s Farm and has previously faced charges of violence against Palestinians. He was indicted by Israel’s State Attorney’s Office in September for allegedly participating in a violent attack against Palestinians and activists in the West Bank village of Muarrajat.
Coco’s Farm and Neria’s Farm
These are illegal outposts in the West Bank, which are at the vanguard of the settler movement. According to the UK, they are associated with people who have been involved in enabling, inciting, promoting or providing support for activities that amount to “serious abuse”.
If you go
The flights
Emirates and Etihad fly direct to Nairobi, with fares starting from Dh1,695. The resort can be reached from Nairobi via a 35-minute flight from Wilson Airport or Jomo Kenyatta International Airport, or by road, which takes at least three hours.
The rooms
Rooms at Fairmont Mount Kenya range from Dh1,870 per night for a deluxe room to Dh11,000 per night for the William Holden Cottage.
The biog
Place of birth: Kalba
Family: Mother of eight children and has 10 grandchildren
Favourite traditional dish: Al Harees, a slow cooked porridge-like dish made from boiled cracked or coarsely ground wheat mixed with meat or chicken
Favourite book: My early life by Sheikh Dr Sultan bin Muhammad Al Qasimi, the Ruler of Sharjah
Favourite quote: By Sheikh Zayed, the UAE's Founding Father, “Those who have no past will have no present or future.”
Multitasking pays off for money goals
Tackling money goals one at a time cost financial literacy expert Barbara O'Neill at least $1 million.
That's how much Ms O'Neill, a distinguished professor at Rutgers University in the US, figures she lost by starting saving for retirement only after she had created an emergency fund, bought a car with cash and purchased a home.
"I tell students that eventually, 30 years later, I hit the million-dollar mark, but I could've had $2 million," Ms O'Neill says.
Too often, financial experts say, people want to attack their money goals one at a time: "As soon as I pay off my credit card debt, then I'll start saving for a home," or, "As soon as I pay off my student loan debt, then I'll start saving for retirement"."
People do not realise how costly the words "as soon as" can be. Paying off debt is a worthy goal, but it should not come at the expense of other goals, particularly saving for retirement. The sooner money is contributed, the longer it can benefit from compounded returns. Compounded returns are when your investment gains earn their own gains, which can dramatically increase your balances over time.
"By putting off saving for the future, you are really inhibiting yourself from benefiting from that wonderful magic," says Kimberly Zimmerman Rand , an accredited financial counsellor and principal at Dragonfly Financial Solutions in Boston. "If you can start saving today ... you are going to have a lot more five years from now than if you decide to pay off debt for three years and start saving in year four."
The bio
Job: Coder, website designer and chief executive, Trinet solutions
School: Year 8 pupil at Elite English School in Abu Hail, Deira
Role Models: Mark Zuckerberg and Elon Musk
Dream City: San Francisco
Hometown: Dubai
City of birth: Thiruvilla, Kerala
