Abu Dhabi’s AD Ports Group has signed a memorandum of understanding (MoU) with the world’s largest producer of iron ore and nickel, Vale, to develop a mega hub on home soil at Khalifa port for industrial complexes that produce low-carbon products for the steelmaking industry for both the local and seaborne markets.
The facility to be built will allow giant valemax vessels to call in the Middle East with a handling capacity of up to 50m tonnes of cargo per annum.
Furthermore, AD Ports Group will develop and manage conveyor infrastructure to transport iron ore and finished products to and from Khalifa Port, and will be exploring commercial collaboration with Vale on the marketing and sale of various bi-products of the manufacturing process in the UAE and the wider region.
The agreement also includes a maritime collaboration to explore opportunities related to management and operation of very large ore carriers (VLOCs) as well as other possible avenues of partnership. Diverse AD Ports is already a significant owner of dry bulk tonnage, albeit not in the valemax class.
Eduardo Bartolomeo, the CEO of Vale, said: “We are encouraged by this opportunity to build a mega hub in the UAE, a country which is strategically positioned to positively influence our drive to significantly reduce CO2 emissions around the globe. Our ability to leverage this new concept of using low-carbon technology in the production of hot briquetted iron signals the success of our products globally.”
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