AD Ports Group, Pakistan Board of Investment sign MoU

AD Ports Group has signed in Karachi, Pakistan, a Memorandum of Understanding (MoU) with the Pakistan Board of Investment to explore developing an industrial zone near Karachi Port and Port Qasim to facilitate trade and economic activity.

The MoU signing was attended by Sheikh Khaled Bin Mohamed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council.

The Group also announced the separate signings of three other agreements, bringing to bear the full economic weight of its five-business cluster structure of ports, economic cities and free zones, maritime and shipping, logistics, and digital services.

The synergistic business ecosystem of interrelated businesses produces unique end-to-end trade and logistics solutions that enable trade for Pakistan and position the country into a world-class maritime hub and key gateway to Central Asia.

Pakistan plays a key role in one of the Group’s strategic growth priorities in Central Asia as the maritime gateway of the “Middle Corridor” connecting Asia and Europe, where the Group has acquired maritime and logistics businesses in Georgia, Kazakhstan and Uzbekistan.

Redevelopment of the Port of Karachi, Pakistan’s main port with overland connections into Central Asia, will further develop the “Middle Corridor” into a modern and cost-efficient maritime sea route.

WAM