RITES, AD Ports Group sign pact for infrastructure development

New Delhi: Railways PSU RITES Limited on Wednesday said it has entered into a strategic pact with AD Ports Group for exploring joint ventures and collaborations in areas of trade and logistics.

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The Memorandum of Understanding (MoU) aims to bring about mutual engagement with the objective of exploring potential opportunities of joint cooperation for working together in the upcoming India Middle East Europe Economic Corridor( IMEEC) and in the areas of infrastructure development such as multimodal logistic parks, free trade zones, rail connectivity projects, and logistics infrastructure services, the companies said in a joint statement.

"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," RITES Chairman and Managing Director Rahul Mithal said.

AD Ports Group Managing Director and Group CEO Mohamed Juma Al Shamisi said, "We aim to further our ambitious economic objectives that will profoundly impact global commerce, invigorating ancillary sectors."

AD Ports Group is a facilitator of logistics, industry, and trade, as well as a bridge linking Abu Dhabi to the world.

RITES provides services across the entire value chain of infrastructure projects, including planning, design, engineering, procurement, construction supervision, and project management.

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