ADX-listed Fertiglobe and AD Ports Group have signed an MoU to explore logistics and supply chain opportunities for storing and shipping urea and ammonia at ports in Egypt and the UAE.
A Fertiglobe statement to Abu Dhabi Securities Exchange (ADX) said the two companies will explore opportunities in the two countries which leverage AD Ports’ cargo handling and storage infrastructure.
Ahmed El-Hoshy, CEO of Fertiglobe, commented: “This MoU will enable us to expand our partnership beyond Egypt and the UAE, as well as to the shipping and storage of green ammonia, in line with our commitment to deliver more sustainable products to the world.”
Fertiglobe and AD Ports Group will explore potential collaboration opportunities in other geographies as well as the development of supply chain solutions for green ammonia, a hydrogen carrier, with Fertiglobe’s existing operations, the statement said.
Source: Reuters (Writing by Imogen Lillywhite; editing by Seban Scaria)