AD Ports Group signs MoUs for Global Trade Development in India
Thursday, 15 February 2024, 15:33 IST
AD Ports Group (AD Ports) has entered into strategic Memorandums of Understanding (MoUs) with the Gujarat Maritime Board and Rail India Technical and Economic Service (RITES Limited). These agreements encompass various collaborative initiatives, including infrastructure enhancement, technology exchange, promotion of sustainable and eco-friendly port infrastructure, maritime education, and tourism. These partnerships further strengthen AD Ports Group's scope, strategic geographic footprint, and prominence within the industry.
The Memorandum of Understanding (MoU) also addresses direct and indirect investments by AD Ports Group, collaborative ventures, and the creation of a Port City in Gujarat. AD Ports states that the aim of this agreement is to investigate and leverage shared opportunities for expanding ports, developing multimodal logistics parks, establishing economic and free trade zones, implementing rail connectivity projects, and providing associated infrastructure services.
The partnership seeks to pioneer an inventive strategy for developing comprehensive logistics solutions by harnessing combined expertise in technology, sustainability, and strategic planning. The emphasis is on executing projects that are economically feasible, environmentally sustainable, and technologically sophisticated. Subsequent to the declaration made during the 18th G20 Heads of State and Government Summit regarding the proposed India-Middle East-Europe Economic Corridor (IMEC), AD Ports Group and RITES Limited have committed to exploring potential collaboration opportunities to achieve the initiative's goals.
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said: "Our collaboration with these distinguished Indian entities is set to significantly advance the objectives of both of our great nations, building on the strong, successful and well-established relationship. With our wise leaders' guidance, we aim to further our ambitious economic objectives that will profoundly impact global commerce, invigorating ancillary sectors".
The Memorandum of Understanding (MoU) also addresses direct and indirect investments by AD Ports Group, collaborative ventures, and the creation of a Port City in Gujarat. AD Ports states that the aim of this agreement is to investigate and leverage shared opportunities for expanding ports, developing multimodal logistics parks, establishing economic and free trade zones, implementing rail connectivity projects, and providing associated infrastructure services.
The partnership seeks to pioneer an inventive strategy for developing comprehensive logistics solutions by harnessing combined expertise in technology, sustainability, and strategic planning. The emphasis is on executing projects that are economically feasible, environmentally sustainable, and technologically sophisticated. Subsequent to the declaration made during the 18th G20 Heads of State and Government Summit regarding the proposed India-Middle East-Europe Economic Corridor (IMEC), AD Ports Group and RITES Limited have committed to exploring potential collaboration opportunities to achieve the initiative's goals.
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said: "Our collaboration with these distinguished Indian entities is set to significantly advance the objectives of both of our great nations, building on the strong, successful and well-established relationship. With our wise leaders' guidance, we aim to further our ambitious economic objectives that will profoundly impact global commerce, invigorating ancillary sectors".
