Today's Edition
ABU DHABI (WAM)
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, said that the group has solidified its position as a leading facilitator of global trade and logistics through unprecedented global expansion and strategic investments in 2024.
The group ended its eventful year with the inaguartion of CMA Terminals Khalifa Port, the latest infrastructure addition to Khalifa port, which will significantly boost Abu Dhabi’s connectivity. Furthermore, it integrated Noatum, the biggest-ever acquisition, broadening the economic horizons of the group.
The group also climbed for the first time into the global top 20 ranks of world container port operators in a survey by Drewry International. It also expanded into global markets, which was enabled by ventures in Angola, Egypt, Tanzania, Pakistan, and Georgia.
AD Ports Group strengthened its global position by expanding internationally and investing in promising projects, boosting its network, capabilities, and international presence while maintaining a strong focus on sustainable innovation and operational.
It also received an initial A1 credit rating with a stable outlook from Moody’s Ratings (Moody’s), the international credit ratings agency, reflecting the group’s strong financial performance, liquidity position and robust growth prospects.
In September, AD Ports Group signed agreements to refinance its syndicated loan of $2.25 billion at more favourable terms and successfully refinanced and upsized its Revolving Credit Facility (RCF) in December from $1 billion to $2.125 billion for greater financial flexibility, lower cost of funding, and better planning options.
KEZAD signed a 50-year lease agreement with NMDC Energy, a subsidiary of National Marine Dredging Company (NMDC), to establish a new Dh367 million modular fabrication facility.
KEZAD also entered into a 50-year land lease agreement with UAE-based Titan Lithium for a state-of-the-art lithium processing plant in KEZAD Al Ma’mourah, with an Dh5 billion investment.
The 50-year, Dh1 billion commitment by Azizi Developments to build 12 factories in KEZAD A, one of the largest land leases signed during 2024, helped establish a UAE modular construction components industry.
KEZAD also commenced the development of over 250,000 sqm of warehousing capacity with an Dh621 million investment, which is set to be completed by the end of 2025.
The Group’s Digital Cluster, which was originally established to lead the digitalisation of the group, evolved during the year into an outward facing, standalone profit centre.
A highlight for the Cluster in 2024 was AD Ports Group’s acquisition of a 60% equity stake in Dubai Technologies, a trade and transportation solutions developer headquartered in Dubai. Dubai Technologies has developed a leading intelligent ports’ operations management platform used by many international port operators, based on coveted advanced digital twin technology.
Recognising the Cluster’s evolution, AD Ports Group rebranded its core Maqta Gateway identity to Maqta Technologies Group, aligned with its strategic focus of facilitating global trade through digitalisation.
The agreement with Jordan’s Aqaba Development Corporation (ADC) to devise a Port Community System for Aqaba’s port operations through the Maqta Ayla joint venture was the Cluster’s first-ever export of Abu Dhabi’s key port digitalisation solution. These technology-driven initiatives underscore AD Ports Group’s commitment to leading the growth and digital transformation of the trade and logistics sectors.
