AD Ports to develop Port of Chittagong

AD Ports to develop Port of Chittagong

AD Ports Group has signed a Memorandum of Understanding (MoU) with the Chittagong Port Authority to discuss the future development and management of the Multi-Purpose Port in Chittagong in Bangladesh.

The MoU was signed by Rear Admiral Mohammad Sohail, Chairman of the Chittagong Port Authority, and Ahmed Al Mutawa, Regional CEO of AD Ports Group, in the presence of H.E. Abdulla AlHmoudi, UAE Ambassador and Head of the UAE Mission to Bangladesh, and Khalid Mahmud Chowdhury, MP and Honourable Minister of State, Mostafa Kamal, Senior Secretary, Ministry of Shipping – Government of the People’s Republic of Bangladesh.

Rear Admiral Mohammad Sohail, Chairman, Chittagong Port Authority, said: “The Multi-Purpose Port in Chittagong is a priority for the Government of Bangladesh. It will be a game changer for the regional economy in general and Bangladesh’s economy in particular.

“We are pleased to collaborate with AD Ports Group on the development of this vital project, leveraging their expertise and capabilities as a global trade and logistics player. We hope that this MoU will pave the way for further cooperation that will attract more foreign direct investments to Bangladesh.”

READ: AD Ports Group collaborates with ADNOC Distribution for marine lubricants

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, stated: “We are excited to explore the development and operation of the Multi-Purpose Port and other ancillary opportunities in Chittagong, the main seaport of Bangladesh, and look forward to leveraging our experience and capabilities to assist our partners in addressing increased trade volumes in one of the fastest growing economies in South-East Asia, guided by the vision of our wise leadership.”

Recently, AD Ports announced its financial results for the three months ending 31 March 2024, reporting strong operational and financial performance.

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