UAE-based port operator AD Ports Group inked two MoUs with Indian port operator Gujarat Maritime Board and transport and infrastructure company RITES, according to a press release. The parties will collaborate to boost infrastructure, transfer technologies, and facilitate green port development among other initiatives. No investment ticket or timelines for the agreements were disclosed in the statement.

Agreement #1: The first MoU will see both outfits partner on the construction of new ports and the expansion and upgrade of existing port infrastructure. The pair have also committed to transfer technologies and to collaborate on sustainable and green port initiatives that include renewable energy and emissions reductions inline with international sustainability standards. Both organizations will also look into proposals for direct and indirect investments, joint ventures, and the establishment of a Port City in Gujarat. The agreement also sees both organizations cooperating on maritime education and training, the statement also said.

Agreement #2: The second MoU sees the pair exploring investments in ports, logistics parks, economic and freezones, rail, and other logistics infrastructure, while highlighting sustainability and advanced technologies. The two organizations will also study partnerships to develop the planned India-Middle East-Europe Economic Corridor (IMEC), unveiled at a recent G20summit.

ICYMI- India and the UAE inked a protocol on Tuesday to establish a multimodal trade corridor in a step that adds momentum to the previously agreed US-led IMEC initiative.

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