The strategic partnership of ADNOC and OCI Global, Fertiglobe has entered into a non-binding Memorandum of Understanding with AD Ports Group to explore opportunities in supply chain and logistics for shipping and storing urea and ammonia at ports in UAE and Egypt.
Both the companies will explore opportunities to leverage AD Ports Group’s cargo and storage infrastructure as Fertiglobe strengthens its storage facilities for ammonia and urea and shipping facilities. The company shall also reduce its greenhouse gas footprint, automate its logistical activities and expand its operational efficiency.
Fertiglobe intends moreso, to optimise its cost structure of logistics, thereby focusing on USD50mn recurring cost savings annually by 2024 end.
Both AD Ports and Fertiglobe shall explore opportunities of collaboration elsewhere in other countries as well as supply chain solution development for green ammonia as Fertiglobe’s current operations are situated near prime shipping routes.
