In a significant move to enhance its regional operations, Abu Dhabi Ports has announced a memorandum of understanding with the Kuwait Ports Authority for the development and operation of container handling at Shuaiba Port. This partnership signals a strategic initiative to strengthen ties between the UAE and Kuwait, fostering advancements in logistics and trade infrastructure.
Abu Dhabi Ports Group, listed on the Abu Dhabi Securities Exchange, announced today that it has signed a memorandum of understanding with the Kuwait Ports Authority, the developer and main manager of several commercial ports and logistics areas in Kuwait, to explore collaboration in developing and operating container operations at Shuaiba Port.
Abu Dhabi Ports Group clarified in a statement that it will prepare the necessary technical, environmental, and financial studies for the project in accordance with the international specifications and standards approved by both parties, including the infrastructure requirements necessary for the project.
It added that the Kuwait Ports Authority will, in turn, identify the project area and cooperate with and provide the necessary support to the group to complete the required studies and obtain all necessary licenses and approvals from the relevant Kuwaiti authorities to implement the project.
Earlier today, Abu Dhabi Ports Group announced its intention to launch a mandatory purchase offer to acquire an additional stake in Alexandria Container and Cargo Handling Company, which will give it a controlling majority stake in one of the largest container terminal operators in Egypt.
The group stated that acquiring a majority stake in the Egyptian company, which operates two strategic terminals on the Mediterranean at the ports of Alexandria and Dekheila, will contribute to enhancing its expansion in Egypt and generating substantial financial returns.
It noted that to obtain the majority stake in the company and successfully complete the transaction, it must purchase a stake of approximately 32% through the mandatory purchase offer, and under the terms of the offer, it will pay 22.99 Egyptian pounds per share.
Abu Dhabi Ports anticipates completing the proposed transaction in the second quarter of 2026, subject to the necessary regulatory approvals from the Arab Republic of Egypt.