Dubai: After the Aqaba Port in Jordan, Abu Dhabi Ports has struck an understanding with the General Company for Ports of Iraq on exchange of best practices. Initially for a 12-month period, the contract has a clause for automatic renewal.
AD Ports Group will conduct feasibility studies on the management and operation of the Iraqi partner’s ports and economic zones and other infrastructure, while also exploring investment opportunities. As part of its mandate, the Abu Dhabi entity will develop infrastructure, such as roads and rail networks, which will connect Al Faw Ports in Iraq with markets in Jordan and Turkey, while simultaneously financing the feasibility studies stated in the MoU.
“We are transferring this invaluable knowledge to our kin in Iraq in order to support the formulation of a diverse and sustainable economy in Iraq,” said Suhail bin Al Mazrouei, Minister of Energy and Infrastructure in the UAE.
According to Capt. Mohamed Juma Al Shamisi, Group CEO of AD Ports Group: “The signing of this strategic MoU is a vital step in the efforts to enhance our regional and global status within the maritime transportation and logistics industries. It will enhance trade and the flow of foreign investments to Iraq and will elevate the quality of maritime transportation and logistics services available in the region.”