Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, has stated that the group has solidified its position as a leading facilitator of global trade and logistics through unprecedented global expansion and strategic investments in 2024.
The group ended its eventful year with the inauguration of CMA Terminals Khalifa Port, the latest infrastructure addition to Khalifa port, which will significantly boost Abu Dhabi’s connectivity. Furthermore, it integrated Noatum, the biggest-ever acquisition, broadening the economic horizons of the group.
The group also climbed for the first time into the global top 20 ranks of world container port operators in a survey by Drewry International. It also expanded into global markets, which was enabled by ventures in Angola, Egypt, Tanzania, Pakistan, and Georgia.
Refinancing syndicated loan
In September, AD Ports Group signed agreements to refinance its syndicated loan of US$ 2.25bn at more favourable terms and successfully refinanced and upsized its Revolving Credit Facility (RCF) in December from US$ 1bn to US$ 2.125bn for greater financial flexibility, lower cost of funding, and better planning options.
KEZAD signed a 50-year lease agreement with NMDC Energy, a subsidiary of National Marine Dredging Company (NMDC), to establish a new AED 367mn modular fabrication facility. KEZAD also entered into a 50-year land lease agreement with UAE-based Titan Lithium for a state-of-the-art lithium processing plant in KEZAD Al Ma’mourah, with an AED 5bn investment.
KEZAD also commenced the development of over 250,000 sqm of warehousing capacity with an AED 621mn investment, which is set to be completed by the end of 2025.
