Page 421 - MOE ENGLISH PR REPORT- NOVEMBER 2024

11/14/24, 12:48 PM AD Ports Group and Pakistan Government to Explore Enhancing Trade, Transport and Logistics Infrastructure
H.E. Dr Thani Bin Ahmed Al Zeyoudi, the UAE Minister of State for Foreign Trade, stressed that the UAE
and Pakistan have long-standing strategic partnerships in many sectors.

H.E. said: “The MoUs signed today establish a new phase of prosperity in trade and investment.

"They will contribute to providing new opportunities for the business communities and private sectors on
both sides, support sustainable development efforts, and stimulate joint economic growth to achieve the
mutual interests of both countries and peoples.”

“There is a common will between the two countries to advance their trade and investment relations to
new heights in main priority sectors”.

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, said: “With
these MOUs today, AD Ports Group will explore ways to identify potential projects and opportunities for
mutual growth that will strengthen ties between the UAE and Pakistan, in line with our wise leadership
vision.

"We are committed to enabling trade by enhancing regional connectivity and help Pakistan maximise its
role as a growing, regional trade partner.”

The MOUs are the latest in a developing relationship between the Group and Pakistan related to
upgrades to the regional partner’s trade, transport and logistics infrastructure.

In February 2024, the Group signed a 25-year concession agreement with the Pakistani federal agency
that oversees Karachi Port, the Karachi Port Trust (KPT), to develop, operate and manage bulk and general
cargo terminal berths 11-17 at Karachi Port’s East Wharf.

As majority shareholder in a joint venture with Kaheel Terminals of the UAE, the venture agreed to invest
US475 million over the next two years in superstructure and equipment, followed by US4100 million
within five years to increase efficiency and capacity by 75%, enabling the terminal to handle up to 14
million tonnes per annum.

The agreement built upon an earlier 50-year concession agreement secured by AD Ports Group in June
2023 to develop, operate and manage Karachi Gateway Terminal Limited (KGTL) container terminal berths
6-10 at Karachi Port’s East Wharf.

With Kaheel Terminals, AD Ports Group agreed to invest US4220 million in the project over 10 years.

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