Abu Dhabi Ports Group has announced the signing of a partnership agreement with KMTF (Kazmortransflot), the marine and logistics services company of the Kazakh National Oil Company (Kazmonay Gas).
The Abu Dhabi Ports Group stated that the agreement provides for the launch of an exclusive joint venture, whose ownership shares will be distributed between 51% of the Abu Dhabi Ports Group and 49% of the KMTF company.
According to the Emirati newspaper Al-Khaleej, the aim of launching the new company is to provide marine and shipping services to energy companies operating in the Caspian and Black Sea regions.
The project is based on participating in a number of future projects identified through a number of marine contracts worth more than $780 million.
