AD Ports Group signs strategic agreements with KazMunayGas and Kazakhstan’s Ministry of Industry & Infrastructural Development

AD Ports Group signs strategic agreements with KazMunayGas and Kazakhstan’s Ministry of Industry & Infrastructural Development

Abu Dhabi, UAE – In the presence of the UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan, and the President of the Republic of Kazakhstan Kassym-Jomart Tokayev, AD Ports Group (ADX: ADPORTS), 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.

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