Wednesday 28 February 2024

Officials after signing the HoT agreement

AD Ports, KazMunayGas to set up shipbuilding, repair facility

ABU DHABI, December 3, 2023

AD Ports Group and KazMunayGas (KMG) have signed a Heads of Terms (HoT) to establish a leading-edge shipbuilding and repair facility in the Mangistau region of Kazakhstan.
Both companies are poised to reshape the maritime landscape, creating a multifaceted facility, which would offer a broad range of services including drydocking, afloat repairs, ship building and refurbishment, the facility would be strategically designed to accommodate diverse vessel types such as bulk carriers, container ships, tankers, offshore vessels and ferries. 
The proposed shipyard is set to become a cornerstone for AD Ports Group and KMG’s rapidly expanding joint venture – Caspian Integrated Maritime Solutions (CIMS). It would not only bolster CIMS fleet, but also extend its services to third party clients within Kazakhstan’s shipping and offshore maritime sectors, substantially enhancing the maritime capabilities within the Caspian Sea Region, making it a pivotal hub for maritime activities.
Broadening range
Captain Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, said: “Our strong alliance with KazMunayGas, through our strategic Joint Venture, CIMS, broadens our range of maritime services and fleet within the Caspian Region, whilst providing further opportunities to utilise our combined strengths to catalyse economic growth of Kazakhstan and the wider region, in line with our wise leadership’s guidance.”
Magzum Mirzagaliyev, Chairman, KazMunayGas, said: “I am certain that the signing of the HoT will make a significant contribution to strengthening the strategic partnership between our countries. In accordance with the instructions of the Head of State Kassym-Jomart Tokayev, we have started working on the project of the establishment of a shipyard in the territory of Kazakhstan. We plan to adopt the wide experience of AD Ports Group in the ship repair services sphere as well.”
The HoT also outlines further collaborative initiatives and projects, including the launch of additional vessel services under CIMS demonstrating both entities commitment to developing the Kazakhstan maritime sector.--TradeArabia News Service


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