Abu Dhabi based AD Ports Group has further expanded its fast growing international portfolio with the signing of a Memorandum of Understanding (MoU) with Tosyalı, one of Turkey’s largest private steel producers. 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 to support its export operations.
With 30 manufacturing plants, including associates and joint ventures in Turkey, Algeria and Angola, Tosyalı has an annual manufacturing capacity of more than 10 million tonnes of steel, with significant volumes shipped to markets around the world. The company operates an organised industrial site at Iskenderun Port, Turkey, and is involved in the development of the new Erzin Port.
Executives at both companies are confident that the collaboration will contribute to the developing trade relationship between the UAE and Turkey, which saw non-oil trade between the two countries grow by 54 % year-on-year in 2021 to AED 50.4 billion.
Fuat Tosyalı, Chairman of the Board of Directors of Tosyalı Holding Co., said: “We aim to deploy shipping and logistics facilities that can bring our products to market quickly and efficiently, and contribute to the growth of our nation’s exports. We believe we have found a strong partner in AD Ports Group, which matches our international ambitions and provides a wide range of services and expertise supported by a world-class fleet.”
In addition, AD Ports has further demonstrated its strategy of global expansion by signing strategic agreements with various Angolan organisations to enhance maritime connectivity along Africa’s west coast. The Group has entered into a framework agreement with the Ministry of Transport of the Republic of Angola to begin collaboration on the development of maritime services and infrastructure across the country. It has also entered into a Head of Terms agreement to form a joint venture with state-owned logistics and transportation company, Unicargas, which manages the multipurpose terminal at the Port of Luanda. The new joint venture, under the majority ownership of AD Ports Group, will modernise, manage, and operate this multipurpose as well as other logistics related Unicargas businesses.
Areas highlighted under the strategic framework agreement with the Ministry for potential future joint investment and development include ferry and cabotage services, maritime passenger terminals and logistics platforms, as well as a Maritime Academy in Angola. The framework agreement also covers plans to consider development of the Caio Deepwater Terminal at Cabinda Port, located in Angola’s oil-rich northwest region.