AD Ports to invest in Africa
Abu Dhabi’s AD Ports Group recently inked a collaboration agreement with the Africa Finance Corporation (AFC), a major African multilateral development institution. The agreement provides the basis for the two organisations to join forces on identifying, financing, developing and investing in much-needed ports, warehouses, maritime and logistics infrastructure projects in Africa.
Over the last 15 years, the AFC has invested more than USD 10 billion in infrastructure projects in 37 African countries.
The AD Ports Group brings in expertise in the construction and operation of ports, free zones and logistics hubs. It is currently already involved in a range of projects in Jordan, Egypt and Iraq. The needs are clear. According to an African Union report, throughput in the continent’s ports will reach 2 billion t by 2040. (sh)