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Abu Dhabi-based AD Ports Group and Uzbekistan-based oil and gas company Sanoat Energetika Guruhi (SEG) have signed an agreement to establish a joint venture in Uzbekistan to develop logistics infrastructure and services.
The agreement will also aim to accelerate the export of Uzbek products, especially SEG products, to the global market. Under the agreement, the two companies will establish a partnership in logistics and freight services, including intermodal freight services, road, rail and air transport, development of container depots, warehouses and other logistics infrastructure, contract logistics and customs clearance.
These entities intend to expand the work of logistics centers in the near future by organizing the transportation flow of food and consumer goods. The partnership continues SEG’s growth strategy of establishing a vertically integrated oil and gas company capable of extracting and processing hydrocarbon raw materials into high value-added products. AD Ports Group will open its first foreign office in Uzbekistan to support the project
Falah Mohammed Al Ahbabi, Chairman of AD Ports Group, said: “We are delighted to be able to leverage AD Ports Group’s expertise and resources to address the core logistics challenges and opportunities that exist in the country. We believe that by building new supply chains and opening up new trade route, we will be able to contribute to unlocking the wider economic potential of the country.”
Bakhtiyor Fazilov, Chairman of the Board of Directors of SEG, said: “This agreement will have a significant impact on our country’s economic growth, creating new jobs and opening up new opportunities for trade and development. We will work with AD Ports Group to build a world equipped with advanced digital services and New trade corridors supported by advanced logistics facilities, including inter-transport freight forwarders.
“Uzbekistan is a major producer of key export commodities such as oil, gas and gold, and the world’s second largest exporter of cotton. Through the new joint venture, we will be able to bring a wider range of products to the global market.”
Captain Mohamed Juma Al Shamisi, Managing Director and Group Chief Executive Officer of AD Ports Group, said: “With our expertise, we will develop intermodal connections to bring goods to market faster and more efficiently. Strategic investments in capabilities will help support international companies by opening new entrances into Central Asian markets and ensuring the highest level of service and support.”
Last month, AD Ports Group signed an agreement with Enter Engineering Group to launch a new business offering logistics and freight forwarding services in Uzbekistan.
read: AD Ports Group to launch logistics and freight services in Uzbekistan
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