AD Ports Group and Advario have signed a Head of Terms Agreement to explore establishing a joint venture focused on developing and operating green energy and liquid bulk storage projects in the UAE and internationally, according to the company's release.
Under the proposed structure, AD Ports Group would hold a 51% stake, with Advario owning 49%.
The collaboration aims to leverage the partners' combined expertise and market access to expand in clean energy alternatives and bulk chemicals storage.
The joint venture would involve constructing bulk storage tanks at Khalifa Port and developing pipeline infrastructure to service clients in KEZAD, the Middle East's largest integrated industrial zone network.
AD Ports Group is a leading facilitator of global trade, logistics, and industry, headquartered in Abu Dhabi, UAE. The company operates a comprehensive portfolio of ports, industrial zones, and logistics services.
Advario is a global provider of tank storage and infrastructure solutions, headquartered in Rotterdam, Netherlands. As a carve-out of Oiltanking GmbH, Advario focuses on chemicals, gases, and new energies, with a commitment to achieving net-zero operations by 2040. The company operates 14 terminals across more than 10 countries, leveraging over 50 years of industry experience.