AD Ports Group, Egypt’s Ministry of Petroleum & Mineral Resources, and TCM Project Management have signed a Memorandum of Understanding (MoU) to explore joint operation and development of Egypt’s strategic crude oil storage network. The initiative focuses on a system recognized as critical infrastructure in Egypt’s national energy value chain and is strategically placed to serve both domestic and international markets.
The new collaboration demonstrates AD Ports Group’s ongoing commitment to expanding its integrated operations in Egypt, a priority overseas market. Since 2022, the group has announced approximately US$469 million in investment commitments in the country, spanning multiple sectors.
Karim Badawi noted, “We are pleased to sign a Memorandum of Understanding with both AD Ports Group, one of our most important partners in trade and infrastructure, and TCM, to explore opportunities to maximise the value of Egypt’s advanced petroleum sector assets, particularly the strategic crude oil storage facilities, as well as to identify other areas of mutual interest. This targeted partnership falls under the second and sixth pillars of our Ministry’s integrated strategy—maximising the added value of Egypt’s petroleum sector assets and enhancing regional cooperation, especially with the United Arab Emirates, with whom we share deep and diverse ties across all energy domains, from upstream extraction and production to downstream transport, distribution, and marketing.”
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