AD Ports Group signs MoU with Türkiye's Tosyalı
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AD Ports Group signs MoU with Türkiye’s Tosyalı

AD Ports Group signs MoU with Türkiye’s Tosyalı

The agreement will enable collaboration across shipping, logistics, freight forwarding and port management

AD Ports Group

Abu Dhabi-based AD Ports Group has signed a memorandum of understanding (MoU) with Tosyalı, a Turkish steel producer.

“The MoU looks to establish the framework for AD Ports Group to collaborate with Tosyalı on a broad range of shipping, logistics, ports, and freight forwarding services, including potentially jointly investing in new port facilities,” the company said in a statement on Wednesday.

Tosyalı has an annual manufacturing capacity of more than 10 million tonnes of steel. The company operates an organised industrial site at Iskenderun Port, and is also involved in the development of the new Erzin Port.

The company said that “executives are confident that the collaboration will contribute to the developing trade relationship between the UAE and Turkey”. In 2021, the non-oil trade between the two countries grew by 54 per cent year-on-year to reach Dhs50.4bn.

“Our integrated business offering enables us to provide a full suite of shipping, logistics and port services for customers like Tosyalı, supported by innovative digital technology,” said Capt. Mohamed Juma Al Shamisi, managing director and group CEO, AD Ports Group.

AD Ports Group expanded its shipping fleet and logistics operations in 2022 through a raft of strategic acquisitions and joint ventures.

In December of last year, it signed a shareholder agreement with an offshore logistics and services subsidiary of the Kazakh National Oil Company.

Read: AD Ports Group inks deals with Kazakh National Oil Company subsidiary

The same month, it signed two agreements with Kyrgyzstan to promote trade and strengthen economic ties with the Central Asian nation.

Read: AD Ports Group signs agreements with Kyrgyzstan to promote trade

It also penned a contract with Africa Finance Corporation to address infrastructure gaps across the continent.

Read more: AD Ports Group, Africa Finance Corporation ink deal

AD Ports Group and TotalEnergies partnered in November 2022 to explore solar related opportunities.

Read: AD Ports Group, TotalEnergies partner to explore solar opportunities

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