AD Ports in deal to develop Egypt crude oil storage network

01/08/2025 07:18 AST

AD Ports Group, a leading global enabler of trade, logistics, and industry, has signed an agreement with Egypt's Ministry of Petroleum & Mineral Resources; and TCM Project Management, a Dubai-based company; to explore joint operation and development of Egypt's strategic crude oil storage network.

Egypt's crude oil storage system is considered critical infrastructure within the country's national energy value chain, strategically positioned to serve domestic and international markets.

The potential collaboration highlights AD Ports Group's commitment to expanding its integrated ports, maritime, logistics, and industrial footprint in Egypt, one of its largest overseas markets, where it has announced approximately $469 million in investment commitments since 2022.

The MoU was signed by Ahmed Al Mutawa, Regional CEO of AD Ports Group; Nasser Shoman, Under-Secretary of the Ministry of Petroleum and Mineral Resources of Egypt; and Mahmoud farrag Omran, General Manager of TCM Project Management, in the presence of Karim Badawi, the Egyptian Minister of Petroleum & Mineral Resources; Sherif Mahmoud Issa, Ambassador of Egypt to the UAE; and Tamer Al Zeyadi, the CEO of TCM Project Management.

On the deal, Badawi said: "This targeted partnership falls under the second and sixth pillars of our Ministry's integrated strategy and maximising the added value of Egypt's petroleum sector assets."

"It is also aimed at enhancing regional cooperation, especially with the UAE with whom we share deep and diverse ties across all energy domains, from upstream extraction and production to downstream transport, distribution, and marketing," he added.

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said this MoU highlights its strategic interest in Egypt.

"The potential joint operation and development of Egypt's extensive crude oil storage network reflects our commitment to bringing the full strength of AD Ports Group's integrated business model-spanning ports, maritime, logistics, economic zones, and digital solutions - through forging long-term strategic partnerships, supporting the economic and industrial objectives of the Egyptian government."

"Guided by the vision of our wise leadership in the UAE, we are dedicated to advancing a closer, mutually beneficial economic relationship with our partners in Egypt, to deliver tangible benefits to the Egyptian and Emirati peoples, and supporting the success of our strategic partners," he added.

Trade Arabia