Fertiglobe signs deal with AD Ports to explore opportunities in UAE and Egypt

Arab News: In a bid to further explore logistics and supply chain opportunities for storing and shipping urea and ammonia at ports in Egypt and the UAE, Fertiglobe has signed a memorandum of understanding with AD Ports Group.

Under the deal, the fertilizer producer, owned by Abu Dhabi National Oil Company and OCI Global, will work with the logistics firm to explore cargo handling and infrastructure opportunities.

This strategic partnership aims to enhance Fertiglobe’s chemical storage and shipping capabilities, according to a press release.

Fertiglobe is the world’s leading seaborne exporter of urea and ammonia and the largest nitrogen fertilizer producer in the Middle East and North Africa, while AD Ports Group is one of the top facilitators of global trade and logistics in the region.

“Through this MoU we will identify compelling opportunities across our logistics and supply chain management requirements, enabling us to bolster our ability to store and ship urea and ammonia from Egypt and further optimize our logistics’ cost structure,” said Ahmed El-Hoshy, CEO of Fertiglobe.

He added: “This MoU will enable us to expand our partnership beyond Egypt and the UAE, as well as to the shipping and storage of green ammonia, in line with our commitment to deliver more sustainable products to the world.”

The deal will also help Fertiglobe reduce its greenhouse gas footprint, enhance operational efficiency and further automate its logistical activities, according to the press release.

“We anticipate that this will become a remarkable step toward a greener, more efficient future. As two homegrown champions, AD Ports Group and Fertiglobe are embarking on this strategic collaboration that holds immense potential,” said Mohamed Juma Al-Shamisi, managing director and group CEO of AD Ports Group.

He added: “We are pleased that, by leveraging our integrated portfolio and extensive infrastructure and supply chain expertise, Fertiglobe can strengthen its urea and ammonia storage and shipping capabilities.”

The press statement added that Fertiglobe and AD Ports Group will explore potential collaboration opportunities in other geographical regions under this MoU.


Arab News.com Contribution Time: 18-Sep-2023 23:43 (GMT)
Arab News.com Last Update Time: 18-Sep-2023 23:43 (GMT)