Page 662 - MOE ENGLISH PR - APRIL 2024

4/22/24, 3:17 PM AD Ports, Iraq’s GCPI Sign Deal To Develop Al-Faw Grand Port, Free Zone
shipping between Asia and Europe.”

Big number

Abu Dhabi-listed AD Ports has a market capitalization of $7.9 billion (AED 28.9 billion) as

of April 4, 2024, according to Abu Dhabi bourse.

Recent investments

The Abu Dhabi-based port operator has been investing heavily in acquisitions in overseas

markets to strengthen its logistics and port operations.

In early February, AD Ports Group signed a 25-year concession agreement with Pakistan's

Karachi Port Trust (KPT) for developing the bulk and general cargo terminal at the Port of

Karachi. Under the deal, Karachi Gateway Terminal Multipurpose Limited (KGTML), a JV

between AD Ports and UAE-based Kaheel Terminals, will develop and manage several
berths at the Pakistani port.

In the same month, the Abu Dhabi port operator’s digital arm, Maqta Gateway, acquired a

60% stake in Dubai Technologies for $7.6 million (AED 28 million).

AD Ports Group, which ranks 55th on Forbes Middle East's Top 100 Listed Companies

2023 list, said in early February that its full-year group revenue shot up 112% year-on-year

to $3.2 billion (AED 11.7 billion), driven by the better performance of maritime and

shipping, ports, logistics, and digital cluster divisions.

This story was updated at 10:57 am GST Thursday.

https://www.forbesmiddleeast.com/industry/transport/ad-ports-signs-deal-with-iraqs-gcpi-to-develop-al-faw-grand-port-free-zone 3/3