AD Ports Group, Al Fanar Gas Group to create JV to offer industrial services

Khalifa Economic Zones Abu Dhabi – KEZAD Group has signed an agreement to form a joint venture (JV) between its parent company AD Ports Group, and Al Fanar Gas Group, which is part of UAE’s leading diversified conglomerate, Ethmar Holdings.

The new company, KEZAD Industrial Services, will oversee the enhancement of multiple offerings to industrial customers and will  assess and develop new specialised offerings.

Al Fanar Gas Group provides engineering, procurement, construction, and maintenance services for major developers, consultants, and contractors across public and private sector projects.

KEZAD Group’s integrated business ecosystem is home to more than 1,750 investors from 17 key industrial sectors.

The new entity will invest in developing new infrastructure and capabilities for superior management of its assets and widening the offerings being provided to customers.

Abdullah Al Hameli, CEO of Economic Cities & Free Zones, AD Ports Group, said: “KEZAD Group is steadfast in its commitment to providing the highest level of services to our clients, including robust infrastructure and services for manufacturing and distribution activities across the industrial and logistics ecosystem. We know this is a key differentiator for companies in strategic industries, who need to be able to scale their operations quickly.

“Launching a new business division focused on these areas raises the level of service and safety available to our clients. The establishment of KEZAD Industrial Services with Al Fanar Group will ensure improved efficiency, access to superior services and increase overall competitiveness for all our customers.”

Moustafa Rashad, Group CEO, Al Fanar Gas Group, said: “We are proud to have a strong and long-lasting relationship with AD Ports Group and KEZAD Group. It was mutually agreed to strengthen our alliance to deliver greater services and further develop the industrial ecosystem together. We have a deep understanding of industrial customers in UAE and across multiple international geographies that we will leverage to introduce new products and services through the JV with KEZAD Group.”

In other news, AD Ports Group has signed an agreement to acquire an 80 per cent equity stake in Dubai-based Global Feeder Shipping (GFS), a global container shipping company. The total purchase consideration for the stake amounts to Dhs2.9bn ($800m), implying a 100 per cent enterprise value of Dhs3.7bn ($1.0bn), with the acquisition being fully funded through a new acquisition loan.

Read: AD Ports Group acquires 80% stake in Global Feeder Shipping