Fertiglobe signs deal with AD Ports to explore opportunities in UAE, Egypt

The ADX-listed fertilizer company Fertiglobe has signed a non-binding MoU with AD Ports Group to jointly explore logistics and supply chain opportunities for storing and shipping urea and ammonia at ports in Egypt and UAE.

The deal will help Fertiglobe reduce its greenhouse gas footprint, enhance operational efficiency and further automate its logistical activities, according to a statement published on Monday.

AD Ports Group, the world’s premier facilitators of logistics, and Fertiglobe will explore opportunities to leverage AD Ports Group’s state-of-the-art cargo handling and storage infrastructure, the statement added.

“Fertiglobe seeks to further optimise its logistics’ cost structure, a key component of its recently introduced cost optimisation programme, targeting $50 million in recurring annualised cost savings by the end of 2024,” CEO of Fertiglobe Ahmed El-Hoshy, said.