The Latest Breaking News from AD Ports Group

AD Ports Group has signed a $2 billion financing agreement with a syndicate of 13 banks, it said in a statement on Tuesday. The multi-currency general corporate facility agreement consists of three tranches of $620 million, 600 million euros, and 2.863 billion dirhams ($779 million), and for a period of…

Egypt's transport ministry signed on Saturday several agreements in maritime transport with AD Ports Group to manage, operate, and maintain the port of Safaga, and to allow for expanded access to multipurpose terminals and cruise routes in Hurghada and Sharm El Sheikh. AD Ports Group signed a 30-year concession agreement…

Abu Dhabi Ports Group announced Friday reaching an agreement to acquire a 70% equity stake in International Associated Cargo Carrier BV, which wholly owns two Egypt-based maritime companies, Transmar International Shipping Company and Transcargo International (TCI). The total purchase consideration (Enterprise Value) of this transaction amounts to AED514 million ($140…

Abu Dhabi Ports Group and Egypt's Red Sea Ports Authority have signed a term sheet and a head of terms agreement for the development of major port projects along Egypt's coast. The Abu Dhabi entity will develop, operate, and manage a multi-purpose terminal in Safaga Port in a consortium with…

Abu Dhabi National Oil Company (ADNOC) signed a new memorandum of understanding (MoU) and joint study agreements (JSA) with counterparts in Germany to boost and deepen collaboration in clean hydrogen. The agreements were announced during the visit of the German Federal Minister for Economic Affairs and Climate Action, Robert Habeck,…

Abu Dhabi's AD Ports Group (ADPORTS.AD) plans to develop extensive trade corridors connecting the United Arab Emirates, with the Middle East, the subcontinent, Africa and elsewhere, executives said on Tuesday, following its share listing. AD Ports Group, controlled by state investor ADQ, made its debut on the Abu Dhabi bourse…

Abu Dhabi Ports Group began trading for the first time Tuesday on Abu Dhabi’s stock exchange, following a $1.1 billion capital raise from a primary issuance ahead of its listing. The AED4 billion ($1.08 billion) of cash proceeds from this primary issuance will be used to fund the Company’s organic…

AD Ports Group has signed a new agreement with Eni Abu Dhabi B.V., the Abu Dhabi-based branch of the world-renowned Italian Integrated Energy Company, to establish a marine logistics base at Mugharraq Port supporting offshore drilling operations in the heart of Al Dhafra region. Mugharraq Port’s ultra-modern infrastructure and its…