Abu Dhabi, UAE – 11 September 2024: AD Ports Group (ADX: ADPORTS), a leading facilitator of global trade, logistics and industry, has agreed to award Shanghai Zhenhua Heavy Industries Co. Ltd ('ZPMC') contracts worth over AED 420 million, to supply six ship-to-shore (STS) cranes, and 17 hybrid rubber tyred gantry (RTG) cranes, to be deployed at its terminal projects in New East Mole Terminal in Pointe Noire - Republic of the Congo, and Noatum Ports, Luanda Terminal in Angola.

This move comes within the framework of AD Ports Group's 30-year concession agreement to develop and operate a multipurpose terminal in Pointe Noire Port in the Republic of the Congo; in addition to the 20-year concession agreement to modernize and operate the Luanda Terminal in Angola.

These agreements are in-line with AD Ports Group's strategy for advanced development within emerging markets for mutual and sustainable economic growth.

Under the awarded contracts, the Pointe Noire, and Luanda terminals will each receive three Super Post-Panamax STS cranes, which are able to reach 21 container rows, a distance of 60 meters. On the other hand, the Pointe Noire will receive nine hybrid RTGs, while Luanda terminal will receive eight hybrid RTGs. The hybrid RTGs can save up to 60% diesel in comparison to the traditional diesel RTGs which equivalent to one million liters per year and approximately 5,000 tonnes of CO2 emissions.

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said: 'We are pleased to advance our concession agreements in Angola and Congo. These cranes play a crucial role in modern port operations. In line with the vision of our wise leadership to enhance trade and promote investment relations with key global partners, we are committed to investing in our terminals' infrastructure and adopting advanced, innovative technology solutions to add value to our customers and partners and benefit the economies we operate in.'

Ruikai You, Party Secretary and Chairman of ZMPC, said: 'As the world market leader in STS cranes and ports equipment, ZMPC's global footprint is unparalleled, as is the strength of our specialist upgrades teams. We are pleased to expand this multi-year partnership with our key client AD Ports Group to supply state-of-the-art Super Post-Panamax STS cranes for its expansion into Africa'.

In June 2023, AD Ports Group signed a 30-year concession agreement with the Government of the Republic of the Congo for the management and operation of the multipurpose New East Mole Terminal in Pointe-Noire. With an estimated US$ 500 million to be invested over the duration of the concession, the terminal is set to handle container, general cargo, breakbulk and various other types of cargo.

In addition, in April 2024 AD Ports Group signed agreements for a 20-year concession (extendable for another 10 years) with the Luanda Port Authority for the operation and upgrade of the existing Luanda multipurpose port terminal in Angola. For this project, AD Ports Group has committed an estimated USD 250+ million towards the modernization of the terminal and development of the logistics business over the next three years, with this investment potentially increasing to USD 379 million over the concession term and in line with market demand.

These agreements underscore AD Ports Group's ambitious international expansion plans, aimed towards enhancing the efficiency of global supply chains, creating faster trade routes and providing diverse logistics solutions for key strategic trading partners.