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Turkey’s Tosyali and AD Ports eye investments in new port facilities

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).

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