Abu Dhabi Ports Company PJSC
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Latest Pressrelease Summaries
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The Board of Directors of Abu Dhabi Ports Company PJSC will hold a meeting via video conference at 11 a.m. on Wednesday, 14 February 2024. The agenda includes reviewing the company's unaudited annual financial statements for the financial year ended 31 December 2023, considering inviting the company's annual general assembly to convene and discussing general matters related to the company's activities and projects. The notice was issued by Emil Pellicer, the General Counsel, with a copy sent to the Securities and Commodities Authority.
AD Ports Group has entered into a 25-year concession agreement with Karachi Port Trust (KPT) for Bulk and General Cargo operations. The agreement will see Karachi Gateway Terminal Multipurpose Limited, a joint venture between AD Ports Group and UAE-based company Kaheel Terminals, develop, operate, and manage the Bulk and General Cargo terminal berths 11-17 at Karachi Port's East Wharf. The joint venture plans to invest around $75 million in the first two years, followed by an additional investment of $100 million within five years to increase efficiency and capacity by 75%. This follows a previous agreement by AD Ports Group to operate the Karachi Gateway Terminal Limited container terminal.
Noatum, a company under AD Ports Group, has completed the acquisition of Sesé Auto Logistics, the Finished Vehicles Logistics business of Grupo Logístico Sesé, for a total of EUR 81 million. The acquisition has been approved by all relevant European regulators. This move is part of Noatum's strategic vision to become a leading supplier of logistics services in the European automotive logistics market. The company anticipates significant synergies with its existing port terminals business in Spain, reinforcing its integrated logistics solution for Original Equipment Manufacturers and other stakeholders. The new brand will be called Noatum Auto Logistics.
The Khalifa Economic Zones Abu Dhabi (KEZAD) Group has announced plans to increase its warehousing capacity by 43% by the end of 2025, requiring an investment of AED 621 million. This expansion, which will add more than 250,000 square meters of space, is in response to a high demand for industrial and logistics facilities in Abu Dhabi. The development will include construction in both the Khalifa Industrial Area and ICAD 3. Since Q3 2022, KEZAD has already delivered over 270,000 square meters of additional warehousing space, with a 66% increase in leased area. The new facilities will include logistics and distribution warehouses, cold stores, light industrial units and showrooms.
AD Ports Group's digital arm, Maqta Gateway, and the Aqaba Development Corporation (ADC) have signed a shareholders' agreement to digitalise Jordan's maritime sector via their joint venture company, Maqta Ayla. Maqta Gateway will own 51% of Maqta Ayla and ADC will own 49%. The company will implement a Port Community System (PCS) to improve communications and transactions between the Ports of Aqaba and its stakeholders. The system is expected to be operational within a year, potentially reducing carbon emissions by the equivalent of 90,000 in-person visits. The Ports of Aqaba handle 80% of Jordan's exports and 65% of its imports.
AD Ports Group has announced that Noatum Terminals, part of Noatum Group, has acquired 100% ownership of APM Terminals Castellón in Spain for EUR 10 million. The acquisition, which has received all necessary approvals, will take effect immediately. The deal bolsters Noatum Terminals' position in the Western Mediterranean region and is part of its strategy to consolidate its presence in Spain. With this acquisition, Noatum's combined capacity at Castellón is 250,000m2 with an annual capacity to handle 250,000 TEUs, representing about 70% of the Port of Castellón's container volume capacity. This will enable Noatum Terminal Castellón to expand its operational capacity for bulk, general cargo, and container processing.
The Abu Dhabi Ports Company PJSC has responded to a report by Reuters, dated 18th December 2023, about the company nearing a deal to buy a stake in a Turkish port. The company states that it does not comment on media speculation or market rumors. It assures that it will make appropriate disclosures to the market if any projects or investments are finalized, in accordance with market regulations.
AD Ports Group, in partnership with KazMorTransFlot, has expanded its shipping operations in Kazakhstan with the acquisition and commencement of operations of two new oil tankers. These vessels, named Liwa and Taraz, will transport Kazakhstan's oil across the Caspian Sea, contributing to the diversification of transportation routes for oil for onward delivery globally. The tankers, which represent a combined investment of USD 35 million, are equipped with inert gas systems in line with modern safety standards. They were acquired under AD Ports Group's joint venture with KazMorTransFlot, Caspian Integrated Maritime Solutions, to provide shipping services for commodity exporters in the Caspian.