AD Ports Group has signed three Heads of Terms (HoTs) with Arab Shipbuilding & Repair Yard Company (ASRY) to collaborate on strategic maritime and ports projects and promote sustainable practices.
The first HoT outlines a joint venture (JV) to manage drydock facilities and shipyards, aiming to enhance the shipbuilding and drydocking capabilities in the Gulf Cooperation Council (GCC) countries.
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The JV will leverage the established businesses of both companies in the sector and explore opportunities in other regions.
A second HoT signed by both companies with JM Baxi, an India-based marine services specialist, will centre on establishing green ship recycling facilities to foster a circular economy by repurposing components and minimising waste.
It will contribute to reducing carbon emissions and adhering to the Hong Kong Convention for responsible ship recycling.
The final HoT involves exploring joint investment opportunities within ports and terminals, establishing a framework for both parties to utilise their expertise in identifying potential development areas.
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By GlobalDataAD Ports Group managing director and group CEO Mohamed Juma Al Shamisi said: “Following the successful formation of our recent joint venture with ASRY, we look forward to deepening our collaboration across the maritime realm.
“We have already developed strong working ties, and this agreement opens the door to create more value and growth across our operations. Exploring opportunities to establish green ship recycling facilities is also very important for us, ensuring that vessels are retired in a safe and environmentally responsible manner.”
These new agreements follow the establishment of ASRY Marine, a JV between Noatum Maritime, which is part of AD Ports Group’s Maritime & Shipping Cluster, and ASRY. This venture is dedicated to offering integrated marine services in Bahrain.
ASRY CEO Ahmed Al Abri said: “We are proud to enhance and expand our strategic partnership with AD Ports Group through these new agreements. By combining our shared expertise and advanced infrastructure, and in line with global shifts in the maritime industry, we aim to strengthen our capabilities in drydocking and shipbuilding across the GCC and beyond.
“We also look forward to developing green ship recycling capacities and entering a vital new field in port management and operation. These initiatives reflect our ongoing commitment to a culture of innovation, operational excellence, and driving growth in the maritime sector.”
Additionally, AD Ports Group also inaugurated the Al Faya Dry Port in February, enhancing logistics services across the UAE.
The port, located between Abu Dhabi and Dubai, will serve as an inland container depot and a transit terminal for trucks, offering efficient cargo handling operations.
