Page 426 - MOE ENGLISH PR REPORT- NOVEMBER 2024

His Excellency 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 AD Ports 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 US$75 million over the next two years in superstructure and equipment, followed by US$100
million within five years to increase efficiency and capacity by 75 per cent, enabling the terminal to
handle up to 14 million tonnes per year.

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 US$220 million in the project over 10 years.

https://www.mediaoffice.abudhabi/en/transport/ad-ports-group-signs-memorandums-of-
understanding-with-government-of-pakistan-to-advance-trade-transport-and-logistics-
infrastructure/