In 2024, AD Ports Group demonstrated consistent growth and strategic investments, highlighted by the launch of CMA Terminals Khalifa Port, which increased the port’s capacity by 23 percent, reinforcing its status as a leading global commercial hub. The Khalifa Port Autoterminal experienced a 30 percent uptick in vehicle traffic in the first half of the year, supported by the rapid addition of 90,000 square meters of storage space to accommodate the automotive trade.
The integration of Noatum’s assets into AD Ports Group's operations was a significant step, enhancing the Group’s international presence and service offerings. This move aligns with AD Ports Group's ambition to be a global leader in trade and logistics.
In its international expansion, AD Ports Group secured a 25-year concession at Karachi Port in Pakistan, earmarking a $75 million investment for the development of cargo terminals. In Egypt, it signed agreements with the Red Sea Ports Authority for the development of cruise terminals, adding to its operations in Aqaba, Jordan, and acquired Safina B.V. to extend its reach across 15 Egyptian ports.
Further expansion into Africa included a concession to manage a terminal at Luanda Port in Angola and a joint venture with Adani in Tanzania, acquiring a majority stake in TICTS. In Georgia, the acquisition of a 60 percent stake in Tbilisi Dry Port connected key logistics routes in the region.
Financially, AD Ports Group achieved a record revenue of Dhs12.72 billion and a net profit of Dhs1.29 billion in the first nine months of 2024, with significant growth across its core sectors. The strong performance was reflected in Moody's A1 credit rating with a stable outlook. Additionally, the Group refinanced a $2.25 billion loan and increased its revolving credit facility from $1 billion to $2.125 billion.
In technology and sustainability, AD Ports Group advanced its digital transformation by acquiring 60 percent of Dubai Technologies, enhancing operations under the rebranded Maqta Technologies Group, which aims to improve global trade with advanced digital solutions.
In 2024, AD Ports Group advanced its digital transformation strategy by acquiring a 60 percent equity stake in Dubai Technologies.
One of AD Ports Group’s notable projects involved a partnership with Jordan’s Aqaba Development Corporation to create a Port Community System for the Port of Aqaba, marking the first export of AD Ports’ digitalization solutions.
Demonstrating its commitment to sustainability, AD Ports Group, in collaboration with NMDC Group, introduced the cutting-edge SAFEEN Green, an unmanned vessel that aims to transform marine surveys and inspections.
Additionally, its joint venture with Damen Shipyards Group achieved a Guinness World Record™️ for the world’s most powerful electric tugboat, Bu Tinah, which significantly reduces emissions from maritime operations.
Economic Zones and Industrial Development
AD Ports Group's KEZAD Group, the region's leading operator of integrated economic zones, reported major achievements in 2024 with several new developments. A standout was the Dhs367 million investment to establish a modular fabrication facility with NMDC Energy, projected to create around 3,000 jobs in the oil and gas industry.
Moreover, Titan Lithium secured a 50-year lease agreement to construct a lithium processing plant in KEZAD, positioning the UAE as a major player in the global lithium market. The plant, with a Dhs5 billion investment, aims to produce battery-grade lithium products.
KEZAD also attracted a Dhs1 billion investment from Azizi Developments for the construction of 12 factories, representing one of the largest land leases of the year. The zone is further expanding its warehousing capacity with a Dhs621 million investment to add over 250,000 sqm of space, enhancing total warehousing capacity by 43 percent.
Looking Ahead
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, commented, “In 2024, we have fortified our position in global trade and logistics through strategic expansions and investments. With the recent opening of CMA Terminals Khalifa Port and the incorporation of Noatum, we are set to further extend our international influence.”
Al Shamisi further stated, “Achieving a ranking among the top 20 global container port operators for the first time, along with our continued expansion in Angola, Pakistan, Egypt, and Georgia, highlights the robust health of our core businesses and the success of our internationalization strategy.”
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