AD Ports Group & Vale to jointly develop low-carbon mega hubs for steel industry
AD Ports Group, the leading facilitator of global trade, logistics and industry, has announced the signing of a Memorandum of Understanding (MoU) with the world’s largest producer of iron ore and nickel, and one of the largest logistics operators in Brazil, Vale S. A. (Vale), to develop a Mega Hub in Abu Dhabi for industrial complexes that produce low-carbon products for the steelmaking industry for both the local and seaborne markets, with a significant reduction of CO2 emissions.
The agreement will see an allocation of land and related services from KEZAD for the Mega Hub, in addition to the development and management of a state-of-the-art handling facility at Khalifa Port, capable of accommodating Valemax vessels with a handling capacity of up to 50 million tonnes of cargo per annum.
Furthermore, AD Ports Group will develop and manage conveyor infrastructure to transport iron ore and finished products to and from Khalifa Port and KEZAD, and will be exploring commercial collaboration with Vale on the marketing and sale of various bi-products of the manufacturing process in the UAE and the wider region.
The agreement also includes a maritime collaboration to explore opportunities related to management and operation of very large ore carriers (VLOCs) as well as other possible avenues of partnership. said a release.
By leveraging their collective strengths, AD Ports Group and Vale are seeking to enhance the overall efficiency of the global supply chain, said a release.
Source: Exim News Service: Abu Dhabi, May 25