Page 671 - MOE ENGLISH PR - APRIL 2024

The deal was signed by Captain Mohamed Juma Al Shamisi, Managing Director &
Group CEO, AD Ports Group, and Dr. Eng. Farhan Muhesen Al Fartosi, Director
General of the General Company for Ports of Iraq, in the presence of Dr. Thani bin
Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Iraq’s Minister of Transport,
Razzaq Muhaibas Al-Saadawi.

Image: AD Ports

This agreement comes after the two parties signed an amendment in August 2023 to
further enhance their collaboration and a Memorandum of Understanding (MoU) in
September 2021. Iraq’s economic growth will be aided by the collaboration, which aims
to establish commercial maritime lanes, attract multinational terminal operators, and
build global trade linkages by combining the experience of both parties.

To improve overall efficiency and operational capabilities, the preliminary agreement
aims to study the mechanism of developing, financing, managing, operating, and
maintaining the project, as well as to provide the necessary expertise for Al-Faw Port
and Economic Zone using advanced management and operating models.

Under the General Company for Ports of Iraq, all parties will investigate investment
prospects and carry out the required feasibility studies about ports, economic zones,
and other infrastructure.

https://emiratitimes.com/ad-ports-group-signs-agreement-with-iraqs-ports-company/