Logistics Turkey’s Tosyali and AD Ports eye investments in new port facilities By Pramod Kumar January 26, 2023, 5:47 AM AD Ports The MoU will establish the framework on a broad range of shipping, logistics, ports, and freight forwarding services Abu Dhabi’s AD Ports Group has signed a memorandum of understanding (MoU) with Tosyali Holding Company, which could see joint investment in new port facilities to support Turkey’s largest private steel producer’s export operations. The MoU will “establish the framework on a broad range of shipping, logistics, ports, and freight forwarding services”, AD Ports said in a statement. With 30 manufacturing plants, including associates and joint ventures in Turkey, Algeria and Angola, Tosyalı has an annual manufacturing capacity of more than 10 million tonnes of steel, with significant volumes shipped to global markets. The company operates an organised industrial site at Iskenderun Port, Turkey, and is involved in developing the new Erzin Port. The collaboration will contribute to the developing trade relationship between the UAE and Turkey, which saw non-oil trade between the two countries grow by 54 percent year-on-year in 2021 to AED50.4 billion ($13.72 billion). Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
