Abu Dhabi: AD Ports Group has signed a Memorandum of Understanding with Tosyali, one of Turkey’s largest private steel producers with operations in three continents.
The MoU looks to establish the framework for AD Ports Group to collaborate with Tosyali on a broad range of shipping, logistics, ports, and freight forwarding services, including potentially jointly investing in new port facilities to support its export operations.
With 30 manufacturing plants, including associates and joint ventures in Turkey, Algeria and Angola, Tosyali has an annual manufacturing capacity of more than 10 million tonnes of steel.
AD Ports Group expanded its shipping fleet and logistics operations in 2022 through strategic acquisitions and joint ventures, positioning the company as an ideal partner for the fast-growing steel producer.
Executives are confident that the collaboration will contribute to the developing trade relationship between the two countries, which saw non-oil trade between them grow by 54 per cent year-on-year in 2021 to Dh50.4 billion.
Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO, of AD Ports Group, said: “Our integrated business offering enables us to provide a full suite of shipping, logistics and port services for customers like Tosyali, supported by innovative digital technology. We are grateful for the support and guidance of the UAE’s leadership that enables us to pursue global agreements of this nature.”
Fuat Tosyali, Chairman of the Board of Directors of Tosyali Holding Co., said: “We aim to deploy shipping and logistics facilities that can bring our products to market quickly and efficiently and contribute to the growth of our nation’s exports. We believe we have found a strong partner in AD Ports Group, which matches our international ambitions and provides a wide range of services and expertise supported by a world-class fleet.”