ABU DHABI, 10th June, 2022 (WAM) -- AD Ports Group has signed a Head of Terms agreement with Enter Engineering Group to launch new businesses providing logistics and freight forwarding services in the Central Asian nation of Uzbekistan.
Under the agreement, the two companies will establish joint venture companies to manage logistics and freight forwarding services, including air, sea, land and rail logistics, warehousing, contract logistics, and customs clearance.
AD Ports Group will also support Enter Engineering Group's work on tenders in the UAE, focusing on the energy sector.
Enter Engineering Group was incorporated in 2012 and is one of the fastest-growing companies in the industrial construction market in Central Asia.
The Head of Terms is the latest in a series of international agreements signed by AD Ports Group to support ports, logistics and digital projects worldwide, and is the first agreement of its kind with a leading enterprise in Uzbekistan.
Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, said, "As part of our mandate from our nation's leadership, we are taking the expertise and resources we have developed in Abu Dhabi and leveraging them to support an ambitious programme of internationalisation and global growth. We are delighted to sign this agreement with Enter Engineering Group, a market leader in Uzbekistan's dynamic industrial engineering sector.
This agreement will see significant opportunities for enhancing the capacity and connectivity of logistics channels for that region, which will help drive economic growth and further cement the ties between the two nations, he added.
Bakhtiyor Fazilov, Chairman of the Board of Directors of Enter Engineering Group, said that the agreement will create jobs, support the needs of businesses within Uzbekistan and open international channels for trade and development.
The UAE and Uzbekistan have made significant progress in developing a portfolio of joint investment projects in recent years, with around 15 projects currently in development with a value of US$5 billion, according to the Ministry of Investments and Foreign Trade of Uzbekistan.