Abu Dhabi to invest in Turkish ports

Abu Dhabi-based ports and logistics giant AD Ports Group has signed a strategic partnership agreement with Turkey Wealth Fund (Turkiye Varlik Fonu) on investment projects in Turkey.

Under the agreement, the partners will collaborate to explore major investment opportunities for port development and operations, and logistics. They will also establish a joint steering committee to assess all investment opportunities and foster trade ties between the two countries.

AD Ports Group continues to strengthen its global footprint through strategic collaboration agreements in Jordan, Iraq and most recently, Egypt. The group also joined forces with ADNOC this month to develop a new port and logistics facility at TA’ZIZ, the chemicals production and industrial hub currently under development at Ruwais, UAE.

Captain Mohamed Juma Al Shamsi, Group CEO, AD Ports Group, said: “Turkey offers a broad range of important and attractive investments for AD Ports Group, and we believe Turkiye Varlik Fonu will be an ideal partner to help implement our ambitious plans.”

Turkey and the UAE inked deals for billions of dollars of investments on Wednesday, following talks between President Tayyip Erdogan and Abu Dhabi Crown Prince Mohamed bin Zayed.