UAE: ADPC Signs MoU with Republic of Guinea
- Business & Finance
ADPC the master developer of ports and industrial zones in the emirate of Abu Dhabi has signed a memorandum of understanding (MoU) with the Republic of Guinea to explore opportunities in mining ports.
The MOU was signed last night (25 November 2013) by Mohamed Juma Al Shamisi, Acting CEO ADPC and His Excellency Mohamed Lamine Fofana, Minister of Mines and Geology, the Republic of Guinea at a ceremony that took place at Etihad Towers, Abu Dhabi.
The MOU is for a 12 month period, during which time both parties will work together to explore opportunities of mutual benefit regarding mining ports in the Republic of Guinea.
Mohamed Juma Al Shamisi, Acting CEO ADPC said: “ADPC’s significant range of port development and management experience including the building and development of Khalifa Port and the creation of the new 53 km-long navigation channel to Musaffah Port in the industrial area of Abu Dhabi, has led to the establishment of this MoU.
“Bulk cargo has been handled through Zayed Port for more than 40 years, the Musaffah channel handled 4 million tonnes of bulk cargo alone last year and overall ADPC ports handled more than 7.5million tonnes in 2012, with this figure set to increase in 2013.
“Guinea is the world’s second largest producer of bauxite and holds perhaps up to one half of the world’s reserves. The Government anticipates a very significant increase in the volumes of bulk cargo exported in coming years. It is essential that the port is operationally equipped and effectively managed to achieve these export volumes.”
ADPC’s significant experience in the design, development, construction and operation of ports was noted as being a valuable and important element of the MoU.
Bauxite and alumina are currently the Republic of Guinea’s major exports. Bauxite is refined into alumina, which is later smelted into aluminium. The majority is currently exported to Russia, North America and Europe.
Press Release, November 28, 2013