Collaboration will oversee Management and Operations of the Iraqi Company’s Ports and Economic Zones
AD Ports Group recently signed a Memorandum of Understanding (MoU) with the General Company for Ports of Iraq (GCPI) to promote increased cooperation between the two organizations within the fields of transportation and maritime.
The agreement was facilitated during a recent visit of a high-level delegation and signed in the presence of HE Suhail Bin Al Mazrouei, Minister of Energy and Infrastructure in the UAE, and HE Nasser Hussein Al Shebly, Minister of Transportation in Iraq.
Set for an initial period of 12 months with a clause for automatic renewal, the MoU will see the exchange of expertise and best practices by both organisations. Additionally, AD Ports Group will conduct feasibility studies on the management and operation of the General Company for Ports of Iraq’s ports and economic zones and other infrastructure, while also exploring potential investment opportunities.
As part of its scope, AD Ports Group will also develop national infrastructure, such as roads and rail networks, which will connect Al Faw Ports in Iraq with markets in Jordan and Turkey, while simultaneously financing the feasibility studies stated in the MoU.
“We are transferring this invaluable knowledge to our kin in Iraq in order to support the formulation of a diverse and sustainable economy in Iraq,” remarked HE Al Mazrouie.
“It is our privilege to announce the start of this new cooperation with AD Ports Group. The MoU will serve as the starting point for future collaboration that will drive the development of a wide range of services,” commented HE Al Shebly.