AD Ports Group inks MoU to develop Karachi Port
Abu Dhabi’s AD Ports Group has reached an agreement with Pakistan to develop and enhance port projects in the country, after a senior UAE delegation visited Karachi.
The AD Ports Group and the Karachi Port Trust (KPT) have signed a Memorandum of Understanding (MoU) with the aim of fostering economic growth in Pakistan. The collaboration between the UAE-based AD Ports Group and KPT will focus on enhancing bilateral cooperation and jointly working on the development, expansion, and digitalization of port projects within Pakistan.
The partnership between the two entities encompasses a wide range of initiatives and projects aimed at improving port infrastructure, optimizing operational efficiencies, and embracing digital technologies. AD Ports Group, leveraging its technical expertise, will conduct feasibility studies and analysis to ensure the commercial success of the projects.
Captain Mohamed Juma Al Shamisi, the CEO and Managing Director of AD Ports Group, expressed their goal of transforming Karachi Port’s Container Terminal into a premier hub for transshipment and cargo trade, positioning it as a global player in the maritime industry. The collaboration is expected to contribute to the economic diversification efforts of the UAE and propel Karachi Port towards becoming a prominent global trade hub, thereby stimulating economic prosperity in the region.
Syed Syedain Raza Zaidi, Chairman of the Karachi Port Trust, acknowledged the significance of the partnership and its potential to unlock unprecedented growth opportunities for the port and the wider trade community. The joint efforts aim to transform Karachi Port into a world-class maritime hub capable of meeting the evolving demands of the global trade landscape.
It is worth noting that the AD Ports Group’s entry into Pakistan is not the first involvement of the UAE in the country’s port sector. DP World has been operating the Qasim International Container Terminal (QICT) for several years, which is considered one of the largest port privatization projects in Pakistan. Additionally, Hutchison Ports operates in the Port of Karachi.
The collaboration between the AD Ports Group and the Karachi Port Trust signifies a significant milestone for the development of Karachi Port and holds the potential to contribute to Pakistan’s economic growth by leveraging the UAE’s expertise and capabilities in the maritime industry.
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