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AD Ports Group has signed a head of terms agreement with Netherlands-based Advario to explore a joint venture to develop and operate green energy and liquid bulk storage projects in the UAE and globally.
Under the proposed deal, the UAE company will own 51 percent of the joint venture, while Advario will hold the remaining 49 percent.
AD Ports will work with Star Energy, Advario’s partner in the UAE, to explore the partnership, the company said in a statement.
Advario plans to build bulk storage tanks at Khalifa Port to support pipeline infrastructure for the group’s clients in the Kezad free zone if the joint venture is formed.
The collaboration will create a launchpad for investments in clean energy infrastructure, including hydrogen carriers such as ammonia, methanol, and other emerging fuels.
The joint venture will explore opportunities to expand internationally, focusing on projects across Europe, the Middle East and Africa (EMEA) and beyond.
The cooperation will also target clean energy carriers and critical infrastructure assets, such as pipelines, jetties, and integrated storage solutions.
Advario, based in Rotterdam, Europe’s largest port city, has 14 terminals across more than 10 countries.
(Writing by P Deol; Editing by Anoop Menon)
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