AD Ports, Advario eye green energy, liquid bulk storage JV
AD Ports Group, a leading facilitator of global trade, logistics, and industry, has signed a Head of Terms Agreement with Advario, a leading global provider of tank storage and infrastructure solutions, to explore establishing a joint venture to develop and operate green energy and liquid bulk storage projects in the UAE and globally.
The proposed joint venture, which would be 51% owned by AD Ports Group and 49% by Advario, has the potential to unlock significant growth opportunities in the fields of clean energy alternatives and bulk chemicals storage by leveraging the partners' complementary strengths, expertise, and market access.
Advario, based in Europe's largest port city, Rotterdam, has 14 terminals across more than 10 countries and brings decades of experience in handling chemicals, gases, petroleum products, and new energy forms.
The Dutch company's expertise would complement AD Ports Group's world-class ports infrastructure, enabling both partners to capture emerging opportunities in the evolving energy landscape.
Under this deal, AD Ports Group would work closely with Advario's UAE partner, Star Energy, to explore the collaboration, said the Emirati company in a statement.
If a joint venture is created, Advario would build bulk storage tanks at Khalifa Port and supporting pipeline infrastructure to the Group's clients in Kezad, the Middle East's largest integrated industrial zone network, it stated.
By leveraging Kezad's industrial base and fully integrated infrastructure, a collaboration will not only enhance AD Ports Group's existing liquid bulk capabilities, but create a launchpad for future investments in clean energy infrastructure, including hydrogen carriers such as ammonia, methanol, and other emerging fuels.
Managing Director & Group CEO Captain Mohamed Juma Al Shamisi said: "We look forward to exploring this joint venture, which has the potential to build on our group's growing investment in sustainable infrastructure, in line with the vision of our wise leadership in the UAE to position Abu Dhabi as a global hub for multi-fuel bunkering and sustainable energy solutions."
"We look forward to exploring with Advario the possibility of leveraging to our combined capabilities to drive sustainability, operational excellence and deliver long-term value to our stakeholders," he stated.
Advario CEO Bas Verkooijen said: "We are excited to take this important step toward creating a joint venture with AD Ports Group. This partnership supports our long-term vision to develop world-class infrastructure for the energy systems of tomorrow."
"By joining forces in the UAE, we are reinforcing our ambition to be a strategic partner in the region's transition toward greener and more resilient supply chains, building on our existing presence in the Middle East," he stated.
A joint venture would also assess opportunities to expand internationally, supporting projects across EMEA and beyond. In addition to liquid bulk storage, the cooperation will target clean energy carriers and critical infrastructure assets, such as pipelines, jetties, and integrated storage solutions.
This focus supports AD Ports Group's broader strategy to strengthen Abu Dhabi's position as a key player in the global energy transition.- TradeArabia News Service
Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).
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