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AD Ports Group, a leading enabler of global trade, logistics and industry, has signed a Memorandum of Understanding (MoU) with Tosyalı, one of Turkey’s largest private steel producers with operations on three continents.
The MoU aims to establish a framework for AD Ports Group to cooperate with Tosyalı on a wide range of shipping, logistics, port and freight forwarding services, including possible joint investment in new port facilities to support its export operations.
Tosyalı has 30 manufacturing plants, including joint ventures and joint ventures in Turkey, Algeria and Angola, with an annual steel production capacity of more than 10 million tons, much of which is shipped to markets around the world. The company operates an organized industrial base in the Turkish port of Iskenderun and is involved in the development of the new port of Erzin.
AD Ports Group expanded its fleet and logistics operations in 2022 through a series of strategic acquisitions and joint ventures, making the company an ideal partner for the fast-growing steel producer.
Executives believe the partnership will help the growing trade relationship between the UAE and Turkey, with non-oil trade between the two countries growing 54 percent year-on-year to AED50.4 billion in 2021.
Capt Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, said: “AD Ports Group is delighted to sign this agreement with Tosyalı, Turkey’s leading steel company and the largest steel producer in Africa. Our integrated Business offerings allow us to offer a full suite of shipping, logistics and port services to clients like Tosyalı, supported by innovative digital technologies. We thank the UAE leadership for their support and guidance, enabling us to pursue a global agreement of this nature.”
Fuat Tosyalı, Chairman of the Board of Directors of Tosyalı Holding Co, said: “As Tosyalı Holding, we aim to deploy shipping and logistics facilities to bring our products to the market quickly and efficiently and contribute to the growth of our country’s exports. We believe that we have Ports Group has found a strong partner that matches our international ambitions and offers a wide range of services and expertise backed by a world-class fleet.” -TradeArabia News Service
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