Abu Dhabi (Etihad)
Vertiglob announced the signing of a non-binding memorandum of understanding with Abu Dhabi Ports Group, to explore opportunities for cooperation in the field of logistics services and supply chain management related to the storage and shipment of urea and ammonia through ports in the UAE and the Arab Republic of Egypt.
The memorandum of understanding aims to explore opportunities to benefit from the modern infrastructure for handling and storing goods of the Abu Dhabi Ports Group, with Vertiglobe focusing on enhancing the capabilities of storing and shipping urea and ammonia, reducing greenhouse emissions, enhancing operational efficiency, and continuing to automate logistical activities.
On this occasion, Ahmed Al Houshi, CEO of Vertiglob, said: “We are pleased to cooperate with Abu Dhabi Ports Group, the leading national company and the leading global engine for trade, industry and logistics services. The MoU aims to explore the attractive opportunities offered by logistics and supply chain management requirements, which enhances Our ability to store and ship urea and ammonia from Egypt supports our program to improve the logistics cost structure.”
He added: “The strategic location of our production facilities provides direct access to ports and international distribution centres, enabling us to easily reach key end markets and areas of high demand. The MoU will enable us to expand our partnership to include additional geographic regions, as well as green ammonia shipping and storage operations, in line with our commitment to providing more sustainable products to the world.”
Vertiglob seeks to leverage the sustainable transportation and supply chain capabilities of Abu Dhabi Ports Group to improve its logistics cost structure, which represents a key pillar of the recently launched cost efficiency improvement program with the aim of achieving annual recurring cost savings of $50 million by the end of 2024.
For his part, Captain Mohammed Juma Al Shamsi, Managing Director and CEO of Abu Dhabi Ports Group, said: “In line with the vision of the wise leadership aimed at promoting economic diversification in the UAE, the memorandum of understanding confirms the group’s commitment to expanding the scope of cooperation at the global level and developing supply chains through the use of fuel types.” alternatives, which contributes to achieving the group’s sustainability goals. We look forward to reaping the fruits of this cooperation to contribute to building a future that witnesses great interest in the environment and responsible exploitation of resources.”
He added: “As two leading national companies, Abu Dhabi Ports Group and Vertiglobe seek to achieve promising potential through this strategic cooperation, as we in the group will work to benefit from our integrated business portfolio and our extensive experience in establishing the infrastructure and supply chains necessary to support the capabilities of ‘ “Vertiglobe’ in the field of shipping and storage of urea and ammonia.”
In addition, Vertiglobe and Abu Dhabi Ports Group will explore potential cooperation opportunities in other geographies, as well as develop supply chain solutions for green ammonia, transporting hydrogen, by leveraging the geographical location of Vertiglube’s existing operations near major shipping lanes.
2023-09-18 09:59:59
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