Abu Dhabi, UAE – 26 June 2024: AD Ports Group (ADX: ADPORTS), one of the world's leading facilitators of global trade, logistics, and industry, and Saif Powertec Ltd. have signed a Memorandum of Understanding (MoU) to potentially cooperate on operational projects and projects under development in various ports in Bangladesh.

The MoU was signed by Ahmed Al Mutawa, Regional CEO, AD Ports Group, and Tarafder Md Ruhul Amin, Managing Director of Saif Powertec Ltd., in the presence of senior officials from both parties.

Under the terms of the MoU, both parties will explore working closely together to conduct joint activities and explore working on the development of Ports, container depots and logistics facilities in Chattogram, Mongla, and Dhaka.

Both parties will establish a joint working group to share expertise, studies, strategies, technical assistance, and the implementation of joint activities.

Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO – AD Ports Group, said: 'This cooperation highlights our ongoing commitment to unlocking fresh opportunities globally. Working alongside Saif Powertec Ltd. will provide a greater platform for us to offer our world-class services and experience on various projects in Bangladesh. The signing of this MoU further enhances the Group's presence in Bangladesh and South Asia as we continue to grow and develop the close relationships we have built over the years in line with the vision of our wise leadership.'

Tarafder Md Ruhul Amin from Saif Powertec Ltd. said: 'Today is another proud day for us as we continue our ongoing partnership with AD Ports Group, which could lead us to work together on big projects in Bangladesh. The MoU is yet another indicator of the strength of the relationship between Saif Powertec Ltd. and AD Ports Group and we're looking forward to collaborating for many years to come. AD Ports Group brings a wealth of experience and know-how to the table when it comes to our industry, so teaming up with them to continue to grow our operations in Bangladesh makes total sense for us.'

Saif Powertec Ltd. is on a mission to rigorously improve the quality of its expertise and services so that it can provide the best possible outcome to its clients and increase the company's capabilities to handle fresh challenges every day, and ultimately become one of the most advanced and innovative companies in Bangladesh. Having been established in 2003 the company now finds itself as a visionary leader by providing power and material handling solutions in the engineering arena of Bangladesh.