AD Ports Group announced the signing and exchange of several diverse agreements to broaden its operations in Kazakhstan.
The exchange took place on the sidelines of the visit of H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, to the Republic of Kazakhstan.
During the visit, H.H. Sheikh Khaled bin Mohamed bin Zayed accompanied by Kassym-Jomart Tokayev, President of the Republic of Kazakhstan, attended the UAE–Kazakhstan Business Forum, which aims to explore investment opportunities and strengthen efforts to increase mutual investments across key economic sectors.
H.H. Sheikh Khaled bin Mohamed bin Zayed and the President of Kazakhstan witnessed the signing and exchange of several cooperation agreements and memorandums of understanding (MoUs) between public and private sector entities from both countries.
- Building on its strategic partnership with KazMunayGas (KMG), the national oil company of Kazakhstan, which began in December 2022, Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, and Askhat Galimovich Khassenov, Chairman of the Board for KazMunayGas, exchanged a signed agreement relating to Caspian and open sea fleet expansion.
Under its terms, the two partners are working on commissioning up to four shallow-draft container ships designed for use on the Caspian Sea, each with a capacity of 780 TEUs, and contemplating investing with KMG in up to four Aframax crude oil tankers to increase support to Kazakhstan’s energy sector.
- Additionally, preliminary Heads of Terms were exchanged by Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, and Nurzhan Marabayev, the General Director of SEMURG Invest LLP, to establish a joint venture to design, develop, finance, and operate the Sarzha Multipurpose Terminal (SMT) at Kuryk Seaport on the Caspian Sea.
The SMT terminal will be designed to handle general cargo, containers, and dry bulk cargoes.
- AD Ports Group also exchanged Memorandums of Understanding (MoUs) with three Kazakh organisations – Kazakh Invest, the nation’s trade development group, Chamber of International Commerce of Kazakhstan, and Special Economic Zone Morport Aktau, to explore joint trade development efforts.
Under the MoUs, AD Ports Group will work with each partner to assess opportunities to promote and develop trade, economic, and industrial cooperation between the UAE and Kazakhstan through joint events, information exchanges, and other measures.
The measures could lead to significant expansion of the Group’s investment and operations in Kazakhstan, a key central Asian trade nation that is a major hub in the Group’s strategy to redevelop the East-West Silk Road “Middle Corridor” into a modern, low-impact direct land corridor running from China, through Central Asia and Pakistan, into Europe.
Captain Mohamed Juma Al Shamisi, Managing Director and CEO of AD Ports Group, commented: “The steps we announce today are not only testimony of our increased interest in Kazakhstan, a major Central Asian trade hub, but also of the execution of our long-term strategy to develop the “Middle Corridor” land passage from China to Europe as a principal East-West trade route of the 21st century. The Middle Corridor is the shortest, least environmentally impactful way to transport goods from China to Europe, and our investments reflect Kazakhstan’s growing role as an emerging export leader.”
To date, AD Ports Group has invested US$175 million in Kazakhstan-based projects. This initial figure, together with the planned investment for upcoming projects, estimated to be in the region of US$600 million, represents a total commitment of US$775 million, contributing to Kazakhstan’s economic development while enhancing regional security and stability.
