AD Ports Group and Uzbek oil and gas company SEG have launched a joint venture to open new logistics and freight businesses.
The deals aim to develop infrastructure and services to enable SEG’s refined products and other Uzbek exports to reach market at competitive prices, overcoming Uzbekistan’s double landlocked location.
At a signing ceremony in Tashkent, AD Ports Group announced it will open its first Central Asia office in Uzbekistan to oversee the new projects.
The joint venture will create a partnership to develop services including intermodal freight forwarding, road, rail and air transport services, the development of inland ports and container depots, warehousing and other logistics infrastructure, contract logistics and customs clearance.
A Memorandum of Understanding (MoU) was also signed with a specific focus on food security. An integrated food storage and distribution hub will be created with the aim of enhancing Uzbekistan’s food trade and improving food security in the wider Central Asian region. AD Ports will contribute its expertise and experience from its Abu Dhabi Regional Food Hub currently being developed in KIZAD.
Under the MoU, the two companies will collaborate on opportunities relating to food storage, transportation, and security, with collaboration from wholesale fresh food market Rungis International Market.
H.E. Falah Mohammed Al Ahbabi, Chairman of AD Ports Group, said: “We believe that we will be able to contribute to unlocking the wider economic potential of the nation by building new supply chains and opening new trade routes. Our capacity to build one-stop economic hubs and logistics centres will be put to good use through the creation of a dedicated food hub, as well as the creation of inland ports and depots.”
Bakhtiyor Fazilov, Chairman of the Board of SEG said: “Uzbekistan is a major producer of key exports, including oil, natural gas and gold, as well as being the second largest exporter of cotton in the world. Through these new joint ventures, we will be able to bring a wider range of products to more markets around the world, transforming our trade potential.”
The deal follows another in June 2022 when AD Ports Group signed an agreement with Enter Engineering Group to launch new businesses providing logistics and freight forwarding services in Uzbekistan.
Source: Seatrade Maritime News
