AD Ports Group has increased its global network to 36 ports and terminals after incorporating Jordan’s Aqaba Multipurpose Port into its portfolio, a senior official confirmed.
Ahmed Al Mutawa, Regional Chief Executive Officer of AD Ports Group, informed the Emirates News Agency (WAM) that the organisation’s footprint now stretches across the Middle East, Central Asia, Africa and Europe. Its operations include the UAE, Jordan, Kazakhstan, Pakistan, Spain, Egypt, Tanzania, Angola, Cameroon and the Democratic Republic of Congo.
The 30-year concession agreement concluded with the Aqaba Development Corporation (ADC) to manage and operate the multipurpose facility marks a key strategic advancement. It also stands as the Group’s largest infrastructure commitment in Jordan so far.
Under the terms of the agreement, AD Ports Group will hold a 70 per cent stake in the joint venture, while ADC will retain the remaining 30 per cent. The Group will inject AED141 million (USD38.4 million) into the partnership.
Across the three-decade concession term, total capital commitments are forecast to reach approximately AED670 million, with cumulative revenues projected to exceed AED1.5 billion, Al Mutawa noted. The Group expects to officially take over operations at the port in August this year.
