Abu Dhabi Ports Group has entered into a memorandum of understanding with Egypt’s Ministry of Petroleum and Mineral Resources, as well as Dubai-based TCM Project Management Company. This agreement aims to explore joint operational and development opportunities for the crude oil storage tank system in Egypt.
The crude oil storage system in Egypt represents a critical piece of infrastructure within the energy sector’s value chain. Its strategic location enables it to effectively serve both local and international markets.
This collaboration underscores Abu Dhabi Ports Group’s commitment to enhancing its presence in ports, marine services, logistics, and industrial zones in Egypt, which is considered one of its largest international markets. Since 2022, the group’s investments in Egypt have approximately reached $469 million.
The signing ceremony was attended by Karim Badawi, Egypt’s Minister of Petroleum and Mineral Resources; Sherif Issa, Egypt’s Ambassador to the UAE; and Tamer El-Zaydi, CEO of TCM Project Management Company.
The memorandum was signed by Ahmad Al-Mutawaa, Regional CEO of Abu Dhabi Ports Group; Nasser Shoman, Undersecretary of the Ministry of Petroleum and Mineral Resources in Egypt; and Mahmoud Imran, General Manager of TCM Project Management Company.
This partnership aims to enhance operational efficiency and generate value-added opportunities in the sector by combining Abu Dhabi Ports Group’s operational expertise and advanced digital capabilities with Egypt’s developed petroleum infrastructure. The oil storage tanks are expected to play a vital role in strengthening regional energy security, boosting supply chain resilience, and facilitating international crude oil trade.
This initiative also aligns with Abu Dhabi Ports Group’s strategy for international expansion and solidifying its presence in key markets, particularly in Egypt and Spain, which are among the group’s prominent operational markets.
The group’s portfolio encompasses over 50 international markets and includes five business sectors: ports, maritime and shipping, logistics, economic cities and free zones, and digital sector.