Abu Dhabi-based Fertiglobe, the nitrogen joint venture between OCI Global NV and ADNOC, announced that it has signed a non-binding Memorandum of Understanding (MOU) with Abu Dhabi’s AD Ports Group to explore logistics and supply chain opportunities for storing and shipping urea and ammonia at ports in Egypt and the UAE.
“The two companies will explore opportunities to leverage AD Ports Group’s state-of-the-art cargo handling and storage infrastructure, as Fertiglobe strengthens its urea and ammonia storage and shipping capabilities, reduces its greenhouse gas (GHG) footprint, enhances operational efficiency, and further automates its logistical activities,” Fertiglobe said in a Sept. 18 statement.
“The MOU will enable us to expand our partnership beyond Egypt and the UAE in other geographies, as well as to the shipping and storage of green ammonia, and further help us to optimize our logistics cost structure,” said Fertiglobe CEO Ahmed El-Hoshy.
Fertiglobe recently introduced a cost optimization program, targeting $50 million in recurring annualized cost savings by the end of 2024.