RITES, AD Ports Group Join Hands for Infrastructure

RITES Limited, a leading transport infrastructure consultancy and engineering firm in India, and AD Ports Group, a leading facilitator of global trade, logistics and industry in UAE, have signed a strategic Memorandum of Understanding (MoU) to explore joint ventures and collaborations in key areas of trade and logistics. The MoU covers cooperation in the upcoming India Middle East Europe Economic Corridor (IMEEC) and in the areas of infrastructure development such as ports, multimodal logistic parks, free trade zones, rail connectivity projects, and logistics infrastructure services. The MoU aims to leverage the collective strengths of both parties in technology, sustainability, and strategic planning, with an emphasis on delivering projects that are economically viable, environmentally sustainable, and technologically advanced. The MoU also aligns with the objectives of both countries to enhance global trade, infrastructure development, and economic diversification.

MoU Signing Ceremony RITES and AD Ports

The MoU was signed by Mr. Rahul Mithal, Chairman and Managing Director of RITES Limited, and Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, in the presence of H.E. Sunjay Sudhir, Ambassador of India to UAE. The signing ceremony took place on February 14, 2024 at Abu Dhabi.

According to a press release by AD Ports Group, the MoU with RITES Limited is one of the two MoUs that the Group signed with Indian entities on the same day. The other MoU was with Gujarat Maritime Board, covering a broad spectrum of initiatives within the port and maritime sectors.

Benefits of the Collaboration

Mr. Mithal said, “This is a natural partnership between two giants with enormous experience, skill, and a rich legacy and marks a significant step forward in our global expansion strategy. We are confident that our combined expertise will create transformative synergies, propelling growth across various areas of infrastructure development such as the upcoming IMEEC and other global logistic initiatives.”

Captain Al Shamisi said, “Our collaboration with RITES would significantly advance the objectives of both of our great nations, building on the strong, successful and well-established relationship. With our wise leaders’ guidance, we aim to further our ambitious economic objectives that will profoundly impact global commerce, invigorating ancillary sectors.”

He added: “As a Group, we are committed to expanding our global footprint, creating value, driving economic diversification, and making a positive impact on the communities we serve. Through leveraging our collective expertise and resources, with a clear strategy for growth through integration and expansion, we can set new global benchmarks in operational excellence, digital innovation, and sustainable growth.”

The collaboration is expected to bring about mutual benefits for both India and UAE in terms of trade volume, connectivity, employment generation, and social development. According to data from the Ministry of External Affairs, India is UAE’s second-largest trading partner with bilateral trade reaching USD 59 billion in 2019-20. UAE is also India’s third-largest source of crude oil imports with USD 19.5 billion worth of oil imported in 2019-20. Moreover, UAE hosts more than 3 million Indians who contribute to the economic and social fabric of both countries.

Future Prospects

The MoU is also seen as a catalyst for further cooperation between India and UAE in the fields of infrastructure development and logistics. Both countries have expressed their interest in working together on the IMEEC initiative that was announced at the 18th G20 Heads of State and Government Summit in 2023. The IMEEC is envisioned as a multimodal corridor connecting India with Middle East and Europe through land, sea, and air routes. The corridor would enhance trade flows, reduce transportation costs, and create new opportunities for investment and development.

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