AD Ports Group (ADX: ADPORTS) the leading facilitator of global trade, logistics, and industry, has signed a Memorandum of Understanding (MoU) with Tosyalı, one of Turkey’s largest private steel producers, which has operations in three continents.
The MoU looks to establish the framework for AD Ports Group to collaborate with Tosyalı on a broad range of shipping, logistics, ports, and freight forwarding services, including potentially jointly investing in new port facilities to support its export operations.
With 30 manufacturing plants, including associates and joint ventures in Turkey, Algeria and Angola, Tosyalı has an annual manufacturing capacity of more than 10 million tonnes of steel, with significant volumes shipped to markets around the world. The company operates an organised industrial site at Iskenderun Port, Turkey, and is involved in the development of the new Erzin Port.
AD Ports Group expanded its shipping fleet and logistics operations in 2022 through a series of strategic acquisitions and joint ventures, positioning the company as an ideal partner for the fast-growing steel producer.
Executives are confident that the collaboration will contribute to the developing trade relationship between the UAE and Turkey, which saw non-oil trade between the two countries grow by 54 percent year-on-year in 2021 to AED 50.4 billion.
Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said: “AD Ports Group is pleased to sign this agreement with Tosyalı, which is the leading steel company in Turkey and the biggest steel producer in Africa. Our integrated business offering enables us to provide a full suite of shipping, logistics and port services for customers like Tosyalı, supported by innovative digital technology. We are grateful for the support and guidance of the UAE’s leadership that enables us to pursue global agreements 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 that can bring our products to market quickly and efficiently, and contribute to the growth of our nation’s exports. We believe we have found a strong partner in AD Ports Group, which matches our international ambitions and provides a wide range of services and expertise supported by a world-class fleet.”