In the presence of the UAE president Sheikh Mohamed bin Zayed Al Nahyan, and the president of Kazakhstan Kassym-Jomart Tokayev, AD Ports Group 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.
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.
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 the 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 Kazakhstan, potentially developing port and logistics facilities as well as enhancing the national maritime fleet.
