AD Ports Group, Egypt’s Ministry of Petroleum, TCM sign deal to explore development of crude oil storage facilities

AD Ports Group, a leading global enabler of trade, logistics, and industry; Egypt’s Ministry of Petroleum & Mineral Resources; and TCM Project Management, a Dubai-based LLC company, today signed a Memorandum of Understanding (MoU) to explore joint operation and development of Egypt’s strategic crude oil storage network.

Egypt’s crude oil storage system is considered critical infrastructure within the country’s national energy value chain, strategically positioned to serve domestic and international markets.

The potential collaboration highlights AD Ports Group’s commitment to expanding its integrated ports, maritime, logistics, and industrial footprint in Egypt, one of its largest overseas markets, where it has announced approximately US$469 million in investment commitments since 2022.

Karim Badawi, Minister of Petroleum & Mineral Resources for the Arab Republic of Egypt, said, “We are pleased to sign a Memorandum of Understanding with both AD Ports Group, one of our most important partners in trade and infrastructure, and TCM, to explore opportunities to maximize the value of Egypt’s advanced petroleum sector assets, particularly the strategic crude oil storage facilities, as well as to identify other areas of mutual interest.