Under the agreement signed on February 5, AD Ports Group and ADC will establish a joint venture (JV) to manage and operate the Hashemite Kingdom’s only general cargo and multipurpose seaport on the Red Sea. The venture will also hold a 70% stake in the joint venture with ADC owning the remaining 30%. The joint venture will assume formal operational charge of the terminal in August 2026.

“The Aqaba Multipurpose Port handles general cargo, grains, livestock, roll-on/roll-off (Ro-Ro) and project cargo. It has an annual handling capacity of 11 million tonnes, supported by nine berths, a quay length of about two kilometres and a draft of 13.5 metres. In 2025, the terminal processed more than 5.3 million tonnes of cargo and nearly 85,000 car equivalent units (CEUs) of Ro-Ro imports,” reported Zawya Projects.

Port of Aqaba has become Jordan’s primary gateway for foreign trade, handling around 80% of the Hashemite Kingdom’s exports and 65% of its imports. The facility also serves as a key transit hub for neighbouring markets, including Saudi Arabia and Iraq. The state-backed entity is also spearheading the USD 10 billion Marsa Zayed beachfront resort and residential community in Aqaba. In February 2025, the Group appointed UAE-based MAG Group Holding as the lead developer for the first phase of the project.

In January 2024, the Group also signed a shareholders’ agreement between its digital arm, Maqta Technologies, and ADC to implement its Port Community System (PCS) for the Port of Aqaba.

In December 2024, ADC issued a Request for Qualification (RFQ) tender for the management, operation, and development of King Hussein International Airport, listed among the five strategic projects announced in December 2021. Since January 2023, the venture has been operating Aqaba’s first cruise terminal, which was the first of the five projects to be operationalised.

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The MoU signing, held in Kuwait City, was witnessed by Dr. Noura Al Mashaan, Minister of Public Works of the State of Kuwait, and Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade.

The MoU was signed by Sheikh Khaled Salem Al Sabah, Director-General of the Kuwait Ports Authority, and Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group.

AD Ports Group will prepare the technical, environmental, and financial feasibility studies, in accordance with internationally recognised specifications and standards agreed by both parties, apart from identifying the project’s infrastructure requirements. Supporting this collaboration, the Kuwait Ports Authority, on its part, will designate the project site at Shuaiba Port, and collaborate with AD Ports Group in completing the required studies, as well as facilitate the obtention of all necessary licences and approvals from relevant authorities.

Sheikh Khaled Salem Al Sabah, Director-General of the Kuwait Ports Authority, said, “This agreement reflects the Kuwait Ports Authority’s commitment to strengthening cooperation with AD Ports Group in the maritime transport and ports sector, and to promoting joint investment and economic collaboration based on mutual interests and shared benefits. We are pleased to work with AD Ports Group, a leading global enabler of trade, industry and logistics, on the development of Shuaiba Port, as well as the operation of the container terminal and its quays. We are confident that this collaboration will enhance the port’s capabilities and strengthen its role in supporting maritime trade and transport in the State of Kuwait.”

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, noted, “Our cooperation with the Kuwait Ports Authority, represents an extension of the strong partnership between AD Ports Group and leading institutions in the State of Kuwait. This collaboration aligns with the vision of our wise leadership in the UAE, aimed towards sharing our expertise and best practices with our partners across the GCC. As a leading provider of integrated trade and logistics solutions and a global developer of ports, terminals and related infrastructure, AD Ports Group would leverage its extensive experience to ensure the success of this project.”

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The acquisition of the state-of-the-art, rail-linked, and custom-bonded intermodal logistics hub, in Georgia, scheduled to be operational in October 2024, further strengthens the AD Ports Group’s role in connecting Asia and Europe, via the Middle Trade Corridor (Trans-Caspian International Transport Route), linking manufacturing centres in Western Asia to the consumer markets of Eastern Europe, by efficiently leveraging a network of sea and dry ports across Kazakhstan, Azerbaijan, Armenia, Georgia and Turkey.

Abdulaziz Zayed AlShamsi, Regional CEO, AD Ports Group, told the media, “We are delighted with the completion of the Tbilisi Dry Port acquisition. The agreement highlights AD Ports Group’s unwavering commitment towards strengthening global supply chains, and we recognise the growing influence of the Middle Corridor on global trade. We are fully focused on successfully operating this important logistics hub, which enhances connectivity between Western Asia and Eastern Europe, and positions AD Ports Group at the forefront of global trade. This is the latest in a number of strategic international investments by AD Ports Group, in line with our wise leadership’s vision, to advance economic growth, job creation and mutual benefit.”

The new hub is strategically positioned between the Caspian Sea and Black Sea, at the heart of the Middle Corridor, and integrates facilities like a container freight station, warehouses and a car storage park. Serving as a crucial point of entry, exit, and regional transit, Tbilisi Dry Port accommodates manufacturers, shippers and consignees moving containers, vehicles and various goods for distribution and storage. The project has direct westward railway links to Turkey and Georgian ports of Poti and Batumi, further connecting European Black Sea ports in Bulgaria and Romania.

“The project will be completed in three phases. By the end of the initial phase, the handling capacity is expected to reach 96,500 TEUs, with 10,000 sqm of warehouse and a car storage yard. Upon the completion of phase three, the project will have a handling capacity of 286,000 TEU, 100,000 sqm of warehouse and a significantly expanded car storage yard. Further land plots have already been secured and can be developed as and when needed,” reported Emirates News Agency.

“The Middle Corridor is regarded as the shortest trade route between Asia and Europe, covering approximately 7,000 km and requiring a journey of 10 to 15 days. The existing Northern Corridor covers about 10,000 km overland, requiring 15 to 20 days, while the Southern Ocean Route spans approximately 20,000 km, requiring a sea voyage of 45-60 days. The Middle Corridor is expected to serve considerable growth in container volumes, which has the potential to reach 1.9 million TEUs by 2040,” it added further.

AD Ports Group made the strategic acquisition just after publishing its financial health-related report, which further showed the venture witnessing its q1 2024 revenues more than doubling to a whopping Dh8 billion, while net profit sailed in at Dh839 million, a 25% gain.

In the second quarter alone, revenue cleared Dh4.18 billion, while the profit tally was Dh439 million.

“Our strong second-quarter results provide further compelling proof of the success of AD Ports Group’s targeted, value-enhancing international expansion – which is being driven not only by acquisitions, but also by solid organic growth across our core businesses,” said Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO.

“We are on course for the profitable ‘internationalisation’ of the Group. And that ‘innovative thinking’ will ‘guide us through the current geopolitical headwinds,” the official added.

In all, Dh1.18 billion was spent by the venture as capex on organic growth in Q2 2024, and Dh2.45 billion for the first half of the year, which is in “line with the Group’s organic capital investment guidance of Dh12 billion to Dh15 billion for the next five years and its yearly guidance of Dh4 billion to Dh4.5 billion.”

The group’s handled general cargo volumes rose 46% year-on-year to 12.8 million tons in Q2 2024, largely “driven by the consolidation of Noatum Terminals (Spain) and KGTML in Karachi, Pakistan.”

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