AD Ports signs agreements with KazMunayGas and Kazakhstan’s Ministry for cooperation in the Caspian and Black seas
AD Ports Group, the leading facilitator of global trade, logistics, and industry, has signed a strategic partnership agreement with Kazakh National Oil Company (KazMunayGas) and a Memorandum of Understanding (MoU) with the Ministry of Industry & Infrastructural Development for strategic cooperation in the development of a marine fleet and coastal infrastructure in the Caspian and Black seas, according to the company's release.
The agreements build upon the shareholder agreement signed in December with KMTF (Kazmortransflot), a subsidiary of KazMunayGas, to launch an exclusive joint venture to provide offshore services for energy companies in the Caspian Sea.
The new agreements signal a significant expansion for AD Ports Group in Central Asia and Kazakhstan, which is a major market for energy, transport and logistics that continues to gain in strategic importance as a key trade route between Europe and Asia.
Under the terms of the strategic partnership agreement with KazMunayGas, the two companies will review opportunities to collaborate on a broad range of projects in the area, including the development of a new fleet of shallow-water vessels to support offshore operations in the Caspian Sea and the development of a tanker fleet to support the export of Kazakh oil.
There is also potential for the joint venture to participate in bulk cargo transportation, reviewing opportunities to build or acquire bulk cargo vessels in support of that enterprise. AD Ports Group will also look to develop bespoke training and development programmes for Kazakh teams via Abu Dhabi Maritime Academy.
The MoU with the Ministry of Industry & Infrastructural Development will see AD Ports Group look to collaborate on the development of international trade and transport corridors through the Republic of Kazakhstan, potentially developing port and logistics facilities as well as enhancing the national maritime fleet.
AD Ports Group sees the launch of collaborative ventures in the Central Asian region as a key strategic priority, both as a major source of growth and in support of key trading partners of the UAE. Furthermore, these agreements have significant potential to stimulate job creation and growth of the Kazakh economy.
