RITES, AD Ports group forge strategic partnership for global trade
PORTS & SHIPPING

RITES, AD Ports group forge strategic partnership for global trade

RITES Limited, a prominent consultancy and engineering firm specialising in transport infrastructure, and AD Ports Group, a leading global facilitator of trade, logistics, and industry, have announced a strategic Memorandum of Understanding (MoU). The purpose of this collaboration is to explore joint ventures and collaborations in key areas of trade and logistics. The partnership combines RITES' expertise in transport infrastructure development and project management with AD Ports Group's extensive portfolio of world-class ports, logistics solutions, and vertically-integrated business clusters.

The primary objective of the MoU is to facilitate mutual engagement and explore potential opportunities for joint cooperation. The focus areas include participation in the upcoming IMEEC and collaboration in infrastructure development, encompassing ports, multimodal logistic parks, free trade zones, rail connectivity projects, and logistics infrastructure services.

Rahul Mithal, Chairman and Managing Director of RITES Limited, expressed confidence in the partnership, describing it as a natural alliance between two giants with vast experience, skill, and a rich legacy. He emphasised that the collaboration would be a significant step forward in their global expansion strategy, creating transformative synergies for growth in various infrastructure development areas.

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, highlighted the collaboration's potential to advance the objectives of both nations. He emphasised building on the strong and successful relationship, aiming to achieve ambitious economic goals that would have a profound impact on global commerce and stimulate ancillary sectors. Al Shamisi affirmed the commitment of AD Ports Group to expand its global footprint, create value, drive economic diversification, and make a positive impact on the communities they serve. Leveraging collective expertise and resources, the collaboration aims to set new global benchmarks in operational excellence, digital innovation, and sustainable growth.

RITES Limited, a prominent consultancy and engineering firm specialising in transport infrastructure, and AD Ports Group, a leading global facilitator of trade, logistics, and industry, have announced a strategic Memorandum of Understanding (MoU). The purpose of this collaboration is to explore joint ventures and collaborations in key areas of trade and logistics. The partnership combines RITES' expertise in transport infrastructure development and project management with AD Ports Group's extensive portfolio of world-class ports, logistics solutions, and vertically-integrated business clusters. The primary objective of the MoU is to facilitate mutual engagement and explore potential opportunities for joint cooperation. The focus areas include participation in the upcoming IMEEC and collaboration in infrastructure development, encompassing ports, multimodal logistic parks, free trade zones, rail connectivity projects, and logistics infrastructure services. Rahul Mithal, Chairman and Managing Director of RITES Limited, expressed confidence in the partnership, describing it as a natural alliance between two giants with vast experience, skill, and a rich legacy. He emphasised that the collaboration would be a significant step forward in their global expansion strategy, creating transformative synergies for growth in various infrastructure development areas. Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, highlighted the collaboration's potential to advance the objectives of both nations. He emphasised building on the strong and successful relationship, aiming to achieve ambitious economic goals that would have a profound impact on global commerce and stimulate ancillary sectors. Al Shamisi affirmed the commitment of AD Ports Group to expand its global footprint, create value, drive economic diversification, and make a positive impact on the communities they serve. Leveraging collective expertise and resources, the collaboration aims to set new global benchmarks in operational excellence, digital innovation, and sustainable growth.

Next Story
Real Estate

Indian REITs Offer 6-7.5 per cent Yield, Surpassing Many Global Markets

Indian Real Estate Investment Trusts (REITs) are delivering average yields of 6–7.5 per cent for unitholders, outperforming many mature markets, including the US, according to a report by Credai and Anarock.Credai, the apex body of Indian real estate developers, and property consultant Anarock released the report Indian REITs – A Gateway to Institutional Real Estate at an event in India.Currently, India has five listed REITs – Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, Nexus Select Trust, and Knowledge Realty Trust. Nexus Select Trust pr..

Next Story
Infrastructure Energy

Insolation Energy Wins 226 MW Solar Projects Under PM-KUSUM

Insolation Energy on Monday announced securing multiple solar projects totalling 226.45 MW, with an investment of Rs 7.5 billion, under the PM-KUSUM scheme. The orders were awarded to its wholly-owned subsidiary, Insolation Green Energy Pvt Ltd, by Jaipur Vidyut Vitran Nigam Limited for 20 sites and Ajmer Vidyut Vitran Nigam Limited for 115 sites, the company informed the exchanges.“The combined SPV solar power plants will total 226.45 MW under PM-KUSUM Component A, with the final levelised tariff at Rs 3.04 per unit for 16 sites, Rs 2.82 per unit for 5 sites, Rs 2.75 per unit for 53 sites, ..

Next Story
Infrastructure Energy

Numaligarh Refinery Awards EPC Contract for Rooftop Solar Projects

State-owned Numaligarh Refinery Ltd. (NRL) has awarded a Letter of Award to Solarium Green Energy Ltd. for the rate contract covering the Engineering, Procurement, and Construction (EPC) of grid-connected rooftop solar PV projects at various locations. The projects fall within the categories of 51–200 kW and 201–1000 kW. Notable projects include a 140 kW rooftop solar plant at NRL Assam, a 760 kW plant at NRL Assam, and a 280 kW plant at NRL West Bengal.The supply order covers ex-manufacturing works and the dispatch price for plant and equipment for the 140 kW, 760 kW, and 280 kW rooftop s..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?