Agreement to Establish Joint Venture Companies for Logistics and Freight Forwarding Services in the Central Asian Nation
Abu Dhabi, UAE: AD Ports Group, the leading facilitator of global trade, logistics, and industry, has signed a Head of Terms agreement with Enter Engineering Group to launch new businesses providing logistics and freight forwarding services in the Central Asian nation of Uzbekistan.
Under the agreement, the two companies will establish joint venture companies to manage logistics and freight forwarding services, including air, sea, land and rail logistics, warehousing, contract logistics, and customs clearance. AD Ports Group will also support Enter Engineering Group’s work on tenders in the UAE, with a particular focus on the energy sector.
Enter Engineering Group was incorporated in 2012 and is one of the fastest growing companies in the industrial construction market in Central Asia.
The Head of Terms is the latest in a series of international agreements signed by AD Ports Group to support ports, logistics and digital projects around the world, and is the first agreement of its kind with a leading enterprise in Uzbekistan.
Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said: “As part of our mandate from our nation’s leadership, we are taking the expertise and resources we have developed in Abu Dhabi and leveraging them to support an ambitious programme of internationalisation and global growth. We are delighted to sign this agreement with Enter Engineering Group, which is a market leader in Uzbekistan’s dynamic industrial engineering sector.
“Working with our new partner, we see significant opportunities for enhancing the capacity and connectivity of logistics channels for that region, which will help drive economic growth and further cement the ties between our two nations.”
Bakhtiyor Fazilov, Chairman of the Board of Directors of Enter Engineering Group, said: “We are pleased and proud to sign this agreement, and are confident that the strong synergies we share with AD Ports Group will deliver real benefits for our customers and stimulate new business opportunities. This agreement will create jobs, support the needs of businesses within Uzbekistan and open international channels for trade and development.”
The United Arab Emirates and Uzbekistan have made significant progress in developing a portfolio of joint investment projects in recent years, with around 15 projects currently in development with a value of US$5 billion, according to the Ministry of Investments and Foreign Trade of Uzbekistan.
About AD Ports Group:
Established in 2006, AD Ports Group today serves as the region’s premier facilitator of logistics, industry, and trade, as well as a bridge linking Abu Dhabi to the world. Listed on the Abu Dhabi Securities Exchange (ADX: ADPORTS), AD Ports Group’s vertically integrated business approach has proven instrumental in driving the emirate’s economic development over the past decade.
Operating several clusters covering Ports, Economic Cities & Free Zones, Maritime, Logistics, and Digital, AD Ports Group’s portfolio comprises 10 ports and terminals, and more than 550 square kilometres of economic zones within KIZAD and ZonesCorp, the largest integrated trade, logistics, and industrial business grouping in the Middle East.
AD Ports Group is rated A+ by S&P and A+ – Outlook Stable by Fitch.
About Enter Engineering Group
Enter Engineering is a market leader in industrial construction in Uzbekistan with a global headcount of over 31 000 employees.
Founded in 2012, Enter Engineering has been in the market of industrial construction for ten years and implemented significant projects of various complexity in midstream and downstream stages.
The Group has performed complex gas field developments, which include construction of energy, infrastructure, and civil facilities.
The majority of EPC projects, production bases and the primary offices of Enter Engineering in Uzbekistan. The company also has representative offices in Singapore, the UAE, China, South Korea, and the Czech Republic.