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The Latest Breaking News from AD Ports Group

RITES conducting feasibility studies on cargo volumes, missing rail links along proposed IMEC corridor: Chairman

RITES Ltd, a leading railway PSU, aims to develop the India-Middle East-Europe Economic Corridor with AD Ports Group.

The Hindu

AD Ports Signs $2 Bln Syndicated Bank Facility

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…

Asharq Al-Awsat

Egypt Signs 30-year Concession Agreement with AD Ports to Operate Safaga Port

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…

Asharq Al-Awsat

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Khalifa Port Expansion Project Inaugurated at $1.08 Bln Total Investment

United Arab Emirates President Sheikh Mohamed bin Zayed Al Nahyan inaugurated on Tuesday the Khalifa Port expansion project at a total investment of AED4 billion ($1.08 billion). “The Khalifa Port expansion project is one of the specialized national projects and is considered a significant addition to the country’s ports and…

Asharq Al-Awsat

AD Ports Completes Acquisition of Majority Stake in Transmar, Transcargo International

Abu Dhabi Ports Group said on Wednesday it completed the acquisition of a 70 percent equity stake in Egypt’s Transmar International Shipping Company (Transmar) and Transcargo International (TCI), with a total value of the deal amounting to $140 million. The acquisition of the two Egypt-based maritime companies is the first…

Asharq Al-Awsat

Abu Dhabi Conference Offers Opportunity to Reshape World Food System

The World Union of Wholesale Markets (WUWM) Conference 2022, which will be held in the Middle East for the first time in October, offers an important opportunity to reshape global food systems, according to organizers and attendees. WUWM Abu Dhabi 2022 will take place on October 19-20 at Abu Dhabi…

Asharq Al-Awsat

AD Ports Group, SEG Sign Deals to Develop Logistics, Freight, Food Trading Infrastructure in Uzbekistan

Abu Dhabi Ports Group launched a joint venture with SEG, one of Uzbekistan's largest oil and gas companies, to open new logistics and freight businesses. They also signed a Memorandum of Understanding (MoU) to develop a food trading hub in Uzbekistan. During a ceremony in Tashkent, the two companies signed…

Asharq Al-Awsat

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Abu Dhabi Ports Group Acquires 70% Equity Stake in Egypt’s Transmar, Transcargo

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…

Asharq Al-Awsat

AD Ports Inks Deals for Major Projects Along Egypt’s Coastline

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…

Asharq Al-Awsat

UAE, Germany Boost Hydrogen Collaboration

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,…

Asharq Al-Awsat

Abu Dhabi’s AD Ports Eyes Trade Routes, Acquisitions

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…

Asharq Al-Awsat

AD Ports Group Raises $1 Billion of Cash Proceeds Upon Trading Its Shares

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…

Asharq Al-Awsat

AD Ports Group Creates Logistics Base with Eni

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…

Asharq Al-Awsat

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