Abu Dhabi’s AD Ports Group has signed a memorandum of understanding with Tosyalı, one of Turkey’s largest private steel producers, to collaborate on a broad range of shipping, logistics, ports, and freight forwarding services.
The deal includes the potential for joint investment in new port facilities to support Tosyalı’s export operations.
AD Ports said the expansion of its shipping fleet and logistics operations last year positioned the company as “an ideal partner for the fast-growing steel producer”. The agreement is expected to strengthen the UAE-Turkey trade relationship, which saw non-oil trade between the two countries increase by 54% year on year in 2021.
Tosyalı has an annual manufacturing capacity of more than 10 m tonnes of steel, including associates and joint ventures, with significant volumes shipped to markets around the world. The company operates an industrial site at Turkey’s Iskenderun Port and is involved in the development of the new Erzin port.
“As Tosyalı Holding, we aim to deploy shipping and logistics facilities that can bring our products to market quickly and efficiently, and contribute to the growth of our nation’s exports. We believe we have found a strong partner in AD Ports Group, which matches our international ambitions and provides a wide range of services and expertise supported by a world-class fleet,” said Fuat Tosyalı, chairman of Tosyalı Holding.