Both companies to consider management and operation of very large ore carriers (VLOCs)
AD Ports Group recently announced the signing of a Memorandum of Understanding (MoU) with the world’s largest producer of iron ore and nickel, and one of the largest logistics operators in Brazil, Vale SA (Vale), to develop a Mega Hub in Abu Dhabi for industrial complexes that produce low-carbon products for the steelmaking industry.
The agreement will see an allocation of land and related services from KEZAD for the Mega Hub, in addition to the development and management of a state-of-the-art handling facility at Khalifa Port, capable of accommodating Valemax vessels with a handling capacity of up to 50 million tonnes of cargo per annum.
Furthermore, AD Ports Group will develop and manage conveyor infrastructure to transport iron ore and finished products to and from Khalifa Port and KEZAD and will be exploring commercial collaboration with Vale on the marketing and sale of various by-products of the manufacturing process in the UAE and the wider region.
“Growth and sustainability must go hand in hand, our collaboration with Vale signifies a key step in our contribution towards meeting the UAE Net Zero 2050 strategic initiative,” commented Captain Mohamed Juma Al Shamisi, Managing Director and CEO, AD Ports Group.
“Our ability to leverage this new concept of using low-carbon technology in the production of hot briquetted iron (HBI) signals the success of our products globally,” asserted Eduardo Bartolomeo, CEO, Vale.
