AD (AD) and TCM ports collection signed a MOM Memorandum to explore joint operation and develop a crude oil storage network in Egypt.
The crude oil storage system is considered in Egypt Critical infrastructure Inside the country National Energy Value SeriesIn a strategic service position Local and international marketsThe reported advertising ports.
The Memorandum of Understanding was signed in the presence Karim Bedouinthe Minister of Petroleum Resources and Minerals For the Republic of Egypt, Sherif Mahmoud IssaAmbassador of the Arab Republic of Egypt to the United Arab Emirates, and Tamer Al ZayyCEO of TCM project management.
The Memorandum of Understanding has been signed Ahmad Al -DeathawaRegional CEO of AD Ports Group; Nasser SeanUndersecretary of the Ministry of Petroleum and Mineral Resources in Egypt; and Mahmoud Farraj ImranGeneral Manager of the TCM project management.
The possible partnership aims to open New competencies and Value creation opportunities By integrating a set of advertising outlets Operating experience and Digital capabilities With Egypt established Energy infrastructure.
Crude oil storage facilities are placed to play Pivotal role In the regional Energy securityand The supply chain is flexibilityAnd facilitation International crude oil trade flows.
Karim Badawi, Minister of Petroleum Resources and Minerals, told the Arab Republic of Egypt:
We are pleased to sign the memorandum of understanding With each of the advertising ports group, one of our The most important partners in Trade and infrastructureAnd TCM, to explore opportunities for Maximization From advanced Egypt The assets of the petroleum sectorAnd especially Strategic crude oil storage facilitiesAs well as to identify other areas of mutual interest.
“this The targeted partnership Fall under The second and sixth pillars For our integrated ministry strategy, Maximizing the added value Of the assets of the oil sector in Egypt and Promote regional cooperationEspecially with the United Arab Emirates, which we share with it Deep and varied relationships Across Energy fieldsFrom extracting and producing the source to transportation, distribution and marketing in the direction of the river course. “
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“This memorandum highlights the interest of our strategic group in EgyptA nation enjoyed by the United Arab Emirates Deep and permanent relationships.
The capabilities Joint employment and development Egypt Wide crude oil storage network It reflects our commitment to bring Full power From a set of advertising outlets Integrated business modelExtended ports, marine, logistical services, economic areas, and digital solutions, through forgery Long -term strategic partnershipsto support Economic and industrial goals From the Egyptian government.
“It is guided by the vision of our wise leadership in the United Arab EmiratesWe are committed to progress The closer, a useful economic relationship With our partners in Egypt, for delivery Tangible benefits to Egyptian and Emirati peoplesAnd support our success Strategic partners“
Earlier this week, the AD ports signed a 50 -year land rental agreement with the Emirates Food Company, a member of the National Holding Group.
