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Abu Dhabi’s AD Ports Group has signed a Memorandum of Understanding (MoU) with Vale, the world’s largest iron ore and nickel producer, to develop a mega-hub on its home soil at Khalifa Port for low-cost steelmaking. Industrial parks for carbon products for the local and marine markets of the industry.
The facility will allow giant freshwater river vessels to dock in the Middle East with an annual throughput of up to 50 million tons.
Additionally, AD Ports Group will develop and manage the conveyor infrastructure to transport iron ore and finished products to and from Khalifa Port and will explore a commercial tie-up with Vale for marketing in the UAE and India and sell the various by-products of the manufacturing process to the wider area.
The agreement also includes a maritime collaboration to explore opportunities related to the management and operation of Very Large Ore Carriers (VLOCs) and other possible avenues of collaboration. Diverse AD Ports is already a significant owner of dry bulk tonnage, although not of the freshwater class.
Eduardo Bartolomeo, CEO of Vale, said: “We are delighted by the opportunity to establish a large hub in the UAE, a country strategically positioned to contribute positively to our global efforts to significantly reduce CO2 emissions. Impact. Our ability to capitalize on this new concept of using low carbon technology in the production of hot briquetted iron marks the global success of our product.”
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