Egypt and Eni discuss building a fixed LNG regasification unit in Damietta

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What we're tracking today

TODAY: Lots of Egypt updates + more earnings from Adnoc Gas, Air Arabia

Good morning, ladies and gents. We have a brisk issue this morning that’s heavy on the Egypt updates in all things trade, but first, a quick status update on how things are looking for AD Ports’ M&A ambitions…

WATCH THIS SPACE-

#1- AD Ports + Turkey push to finalize Izmir Port acquisition: AD Ports is continuing negotiations with Turkey to establish a joint venture for the operation of Izmir Port after approximately eight months of delay, Reuters reports, citing people familiar with the matter. AD Ports has been in talks to acquire a stake in the key Turkish port of Izmir in a USD 500 mn transaction since December.

What was causing the delays? Turkey was exploring other buyers, but has decided to advance with AD Ports, one of the sources says. Conditions on capacity and competition delayed the final agreement, the source added.

What we know: The agreement will see AD Ports shell out investments in an entity established by Turkey’s sovereign wealth fund, the Turkish Wealth Fund (TWF), to operate the facility. Details of the arrangement are yet to be finalized.

#2- Iran is looking to establish a special mineral economic zone with Afghanistan, according to a statement. Iran is also discussing cooperation with Afghanistan in mineral exploration, investment in road and rail construction, and the establishment of an iron ore processing plant. “Iran can increase its transit role in the import and export of Afghanistan from the current 50%,” Tehran Times reported last week, citing statements by Iran's commercial attaché in Afghanistan Hossein Roustaei.

Why is this important? Afghanistan fulfills over 80% of its market needs through imports with Iranian exports constituting 25% of the demand, Roustaei said during a Iran Chamber of Commerce, Industries, Mines and Agriculture meeting on the economic viability of the Afghan market. Iran exported over USD 724 mn worth of goods to Afghanistan in the first four months of the current calendar year (March 20-July 21) with a 28% increase y-o-y, he added. Afghanistan's import priorities include food, agriculture, fuel, medicine, medical equipment, and construction equipment.

#3- The first transformer at the Egyptian-Saudi 500 kV interconnection station in Egypt’s Badr City was installed on Saturday, according to a statement released. The interconnection aims to enhance the electrical grid’s connectivity with neighboring networks and allow countries to trade their renewable energy. The transformer built in Badr City is the first of its kind in the Middle East in both size and type of technology employed.

The project is coming a long way: The infrastructure for the 3 GW Egypt-Saudi interconnection project was around 40-50% complete in February. The project — which consists of three stations connected via 1.35 km of overhead lines and 22 km of submarine cables in the Gulf of Aqaba — is expected to come fully online in 2026.

#4- TCI Sanmar eyes more expansions in Egypt: Indian chemical firm TCI Sanmar is looking to pour AED 300 mn into Egyptian projects, including the expansion of the company’s factories in Port Said for AED 150 mn as well as establishing a new terminal for loading ethylene at West Said Port for another AED 150 mn, according to a statement. The company — which currently exports 70% of its production and directs 30% to the local market — is looking to allocate 100% of its production to the Egyptian market in a bid to reduce imports and preserve foreign currency.

TCI Sanmar’s footprint in Egypt: TCI Sanmar inked an MoU last year with Egypt’s state-owned United Gas Derivatives Company (UGDC) allowing it to use its Damietta Port facilities for importing raw materials. The firm had also announced plans back in 2022 to invest an initial USD 160 mn to set up a loading terminal near Port Said to import ethylene.

IN OTHER NEWS- The EU is investigating Egyptian steel exports: The European Commission has initiated an anti-dumping investigation into hot-rolled flat products of iron, non-alloy or other alloy steel imports from Egypt, India, Japan, and Vietnam, it said in a statement (pdf) last week. The probe follows a complaint by the European Steel Association calling for the imposition of anti-dumping duties.

Who is involved? Ezz Steel, Egypt's sole exporter of hot-rolled flat steel to the EU, received a notice from the Commission last week, it said in a statement to the London Stock Exchange. The company, which considers the EU a major market for its flat steel exports, has pledged full cooperation with the investigation.

What’s next? The exporters under investigation will be required to provide detailed data in the next few weeks, Ezz Steel said. The investigation is expected to be lengthy given the involvement of multiple countries and the complexity of the required data, it added.

#5- Ukraine doubled its food exports to over 4.2 mn metric tons in July, part of which may be headed to Egypt, Reuters reports, citing Kpler data. The Eastern European country is rushing to send out as many grain shipments as it can to capitalize on Black Sea military gains, even amid an escalation in Russian attacks on its ports. "We are doing everything to make business feel comfortable even in wartime conditions," said Ukraine’s Seaport Authority deputy head Dmytro Barinov. Ukraine exported a majority of its wheat to Egypt, Spain, and Indonesia last season.

MARKET WATCH-

#1- Opec+ has trimmed its outlook for growth in global oil demand in 2024 and 2025 on the back of expectations of softened demand in China, according to the group’s monthly report (pdf). The oil cartel now sees oil demand rising by 2.1 mn barrels per day (bbl / d) this year to 104.3 mn bbl / d, down from its previous forecast of a 2.25 mn bbl / d increase.

The 2025 forecast: Opec+ has also revised down next year’s demand growth for crude oil, penciling in a 1.78 mn bbl / d increase, down from 1.85 mn bbl / d.

THE MARKETS RESPONDED- Oil prices dipped in early morning trading, breaking a five-day streak of gains, as concerns emerged over Opec’s trimmed growth outlook, Reuters reports. Brent crude futures fell by USD 0.78 to USD 81.52 a barrel by 03.30 GMT, while US West Texas Intermediate (WTI) futures slipped down USD 0.77 to USD 79.33 a barrel.

#2- Baltic index decreases for third straight session: The Baltic Exchange’s dry bulk sea freight index — which tracks rates for the capesize, panamax, and supramax vessel segments — fell 0.9% to 1,655 points on Monday to its lowest session since April 10. Capesize decreased 1% to 2,413 points, down for a third consecutive day. The panamax index was also down 0.9% to a one-month low of 1,584 points, while the supramax segment dipped further by 0.5% to 1,294 points.

DATA POINT-

Egyptian state grains buyer GASC purchased 280k tons of wheat in a tender that closed yesterday, locking in just c. 7% of the 3.8 mn tons it aimed to purchase, Bloomberg reports. The authority bought five cargoes from Ukraine and Bulgaria for October and November delivery at between USD 259.24-269.25 a ton, including freight.

ICYMI- The authority last week launched Egypt’s largest wheat tender to date, hoping to secure 3.8 mn tons in a bid to capitalize on a dip in wheat prices. The tender came with a much longer timeframe than usual, requiring bidders to submit offers months in advance for shipments from October to April.

That’s a wrap on Egypt’s local harvest season. The Egyptian Supply Ministry secured 3.6 mn tons of Egyptian wheat during the local harvest season, which drew to a close this month, sources at the ministry told Al Borsa.

THE ENTERPRISE FINANCE FORUM-

Are you planning to be in Egypt on 24 September? You may be interested in attending our 2024 Enterprise Finance Forum. Seating is strictly limited at our flagship, invitation-only forum for C-suite executives and other senior leaders.

Why attend? We’re in the early days of a generational realignment of power in our industry — in our region and beyond — and on the cusp of the biggest intergenerational transfer of wealth the world has ever seen. With that as the backdrop, we’re going to take stock of where we stand six months after the float of the EGP and ask what’s next for finance in Egypt and the wider region. Among the questions we’ll be asking:

What roles will Egypt, Saudi and the UAE play in the regional industry going forward?
What are foreign investors looking for right now?
Is real estate the only asset class in Egypt?
What does the next generation of leaders think as they take over established family businesses?

Do you want to request an invitation? Tap or click the image below.

CIRCLE YOUR CALENDAR-

Saudi Arabia will host the Saudi Warehousing and Logistics Expo on Monday, 2 September to Wednesday, 4 September in Riyadh. The event will bring together leaders in the supply chain, warehousing, and logistics industry from across the Kingdom to discuss investments, trade, geopolitical risks, and localized manufacturing.

Egypt will host the Egypt International Airshow on Tuesday, 3 September to Thursday, 5 September in El Alamein. The event will host a range of discussions touching on industrialization, digitalization, and globalization in the regional commercial aviation sector. During the event, aircrafts and innovative aerospace products, and services will be showcased.

Saudi Arabia will host SkyMove MENA on Tuesday, 10 September and Wednesday, 11 September in Riyadh. The event will gather global industry stakeholders, experts, and service providers to discuss challenges in the regional aviation industry.

Saudi Arabia will host the Saudi Maritime and Logistics Congress on Wednesday, 18 September and Thursday, 19 September in Dammam. The event will gather international industry leaders in the maritime sector to discuss a range of topics including interconnected logistics, supply chains, digitalization, decarbonization and workforce development.

Check out our full calendar at the bottom of this email for a comprehensive listing of upcoming news events and news triggers.

Egypt + Eni discuss building a fixed LNG regasification unit in Damietta

Egypt is in talks with Italian energy company Eni to build a USD 150 mn regasification unit in Damietta, an unnamed government official told Enterprise. The investment ticket does not include development costs for a warehouse to store LNG shipments.

What we know: The unit will be built on land adjacent to the Damietta LNG facility — operated by a joint venture between Eni and the Egyptian Natural Gas Holding Company (EGAS) — to receive LNG shipments and regasify them, Asharq Business reports. The investment ticket does not include development costs for a warehouse to store LNG shipments. The main objective is to bridge the gap between higher-than-expected local consumption, which was up 12% y-o-y in July, and dwindling domestic gas production. Egypt is also negotiating the development of a floating regasification unit with Eni.

What's next? Egypt’s EGAS has contracted an international consultancy firm to conduct studies to establish a regasification unit and an LNG warehouse in the Damietta liquefaction plant, Asharq reports. The planned storage capacity is set at some 160k cubic meters of LNG.

Remember: Egypt currently has access to two regasification units, one in Jordan’s terminal in Aqaba, which Egypt was given the right to in an agreement inked last year, and a newly-leased Norwegian floating storage and regasification unit currently docked in Ain Sokhna. The state contracted the unit after a fall in domestic production pushed the country from being a net exporter to a net importer of LNG. The government is in talks with Jordan to jointly purchase a new floating regasification unit, with discussion of leasing out the ship to other countries should our supply gap diminish.

But that’s not enough: Our source tells us that Egypt needs at least three regasification units to meet the increasing industrial and commercial demand for gas.

Long-term leases leave the market short on available units: There are currently no regasification units up for lease from manufacturers, since leasing contracts typically extend for 15-20 years, the source told us.

Locking in low prices: The source noted that the country’s gas needs have been secured until February of next year after the government took advantage of current low oil prices to contract more shipments. Finance Minister Ahmed Kouchouk last week said that the government is moving quickly to take advantage of lower commodity prices amid a meltdown in global markets.

Egypt to set up a logistics zone in Rwanda

Egypt will set up a logistics zone in Rwanda, after the Rwandan side allocated the necessary land near its border with Tanzania, according to a statement. The move will help facilitate Egyptian companies’ access to the Rwandan market. The announcement came during a meeting between Foreign Minister Badr Abdelatty and his Rwandan counterpart Olivier Nduhungirehe. No information was given over the size of the land that was allocated for the project, or the timeline for its implementation.

And a new MoU was inked: The two sides signed an MoU in the field of transportation, the statement read without elaborating any further.

Remember: Egypt’s Transport Ministry has been planning to set up a logistics corridor connecting Tanzania and Rwanda in a bid to facilitate the flow of Egyptian exports to Africa. The corridor was set to run from Dar es Salaam port in Tanzania and pass through a logistics zone and dry port, before reaching another logistics zone and dry port in Rwanda.

Adnoc Gas reports strong growth in 2Q 2024, expects robust demand for gas until 2040

Adnoc Gas saw its net income grow 21% y-o-y to USD 1.19 bn in 2Q 2024, according to its financials (pdf). The gas supplier booked USD 6.08 bn in revenues, climbing 13% y-o-y, driven by a favorable pricing environment, the company said in its earnings report (pdf). The robust earnings mark Adnoc’s “third quarter in a row” where revenues have surpassed USD 6 bn,” Adnoc Gas CFO Peter Van Driel said in a virtual media roundtable attended by EnterpriseAM UAE.

More exports drove growth: The company’s EBITDA from exports and traded liquids — which account for “two thirds of [Adnoc’s] revenues coming from exports,” according to Van Driel — rose to USD 1.09 bn in 2Q, up 13% y-o-y, on the back of an 8.8% increase in exports to 507 tn British thermal units (TBtu).

On a six-month basis, Adnoc Gas’ bottom line rose 21% y-o-y to USD 2.38 bn in 1H 2024. The company’s revenues amounted to USD 12.09 bn, up 14% y-o-y during the six-month period.

Looking ahead, Adnoc expects to post strong earnings in 3Q 2024, along with higher processing volumes, Van Driel said. However, as the company's facilities are set to undergo maintenance in 4Q, with expected softer pricing and lower demand due to seasonality, Adnoc’s sales volumes are anticipated to be impacted in the last quarter.

Adnoc’s confidence in demand growth is high: Adnoc expects global gas demand to rise 14% by 2040, as new industries such as data centers, coupled with population growth, will drive demand for the transition fuel. Additionally, “there are many markets that are upcoming and really start to convert to [liquified natural gas] import markets,” the CFO told Bloomberg (watch, runtime, 4:40). To meet growing demand, Adnoc gas plans to add 9.6 mn tons of LNG to its export portfolio from the Ruwais plant.

Strong projected growth was a big factor in the energy giant’s decision to build Ruwais, Van Driel said. “When [Adnoc] took the decision to build Ruwais, we were confident about three things. One, you need to have enough gas. Two, you need to understand how much it costs to build a facility, [and three,] you need to know that you can also sell all the LNG. If one of the three is not met, you would not have confidence in such a large project,” Van Driel said.

WATCH THIS SPACE- Adnoc is currently working on a number of projects within the UAE, Van Driel said, without disclosing the details of the projects. “[These projects] will make sure that if there is more raw gas, we will be able to process it,” he added.

REMEMBER- Adnoc Gas plans to develop projects worth USD 13 bn over the next five years in both domestic and international markets to expand its processing capacity by 20%, Adnoc Gas’ COO Mohamed Al Hashemi said in an interview with Sky News Arabia Business (watch, runtime, 1:18).

Air Arabia’s bottom line falls 15% in 2Q 2024 while revenues rise 19%

Emirati budget carrier Air Arabia saw its bottom line after tax fall 15% y-o-y to AED 390.2 mn in 2Q 2024, according to its financial statements (pdf). Air Arabia attributed the fall to slower yield growth and rising costs in the aviation industry, driven by economic and geopolitical uncertainties, currency fluctuations, fuel price volatility, and supply chain disruptions in 2Q, it said in a separate earnings release (pdf). The airline’s top line rose 19% y-o-y during the period to AED 1.66 bn.

On a six-month basis, Air Arabia’s net income fell 21% y-o-y to AED 631.3 mn in 1H 2024. The company’s revenues rose 13% y-o-y to 3.2 bn, driven by strong passenger demand, with over 8.9 mn passengers traveling with Air Arabia in 1H, marking a 16% y-o-y increase.

Emirates appoints new UK Divisional Vice President

Emirates appoints new UK Divisional VP: Emirates airlines appointed Jabr AlAzeeby (LinkedIn) as its new UK Divisional Vice President, according to a statement. AlAzeeby has over 15 years of experience at Emirates, previously serving as vice president for India, Pakistan, and Saudi Arabia. “The United Kingdom is one of Emirates’ most important operations and I’m looking forward to working closely with the team locally to continue the momentum of the past few years, as well as bringing my experience of the Middle East market to the region,” Travel Weekly quoted AlAzeeby as saying.

Maritime, zones and aviation updates from Oman, Saudi Arabia, and the UAE

ZONES-

Oman’s Asyad Group has launched a tender for a 4.9 sqm office complex in Muscat Airport Free Zone (MAFZ), according to a press release. The tender — which is a 25-year partnership with Asyad Group — looks to onboard private firms to design, operate, finance, and transfer the office complex in MAFZ. The project aims to develop the designated space into an integrated business center that provides investors with office spaces, retail areas, and several function rooms in a bid to position MAFZ as a global business hub that attracts foreign direct investment by offering high-quality logistics services and facilities. The deadline for the tender has not yet been disclosed.

ICYMI- This tender marks Asyad Group’s second invitation to Oman’s private sector to become key partners in the project. Asyad Group issued a tender back in March for infrastructure development at phase 1 of Muscat International Airport Freezone.

SHIPPING + MARITIME-

Mawani partners with Milaha to boost KSA connectivity: The Saudi Port Authority (Mawani) has added a new shipping service — Milaha Gulf Express 2 — by Qatar Navigation (Milaha) to boost Saudi Arabia’s connectivity with Chinese and Indian ports, according to a press release. The new shipping service aims to connect King Abdul Aziz Port in Dammam with seven regional and international ports, including Ningbo, Shanghai, and Sheouki in China, Nhava Sheva and Mundra in India, Sohar in Oman, and Hamad in Qatar through bi-weekly trips with a 9k TEUs capacity.

Milaha already has connectivity with China: Milaha added a new shipping service — Milaha Gulf Express (MGX) — back in May that connects three Chinese ports in Shanghai, Ningbo, and Shekou with the UAE’s Jebel Ali, offering faster transit time for that corridor with a capacity of 2.7k to 3k TEUs.

AVIATION-

Saudi Ground Services was awarded a SAR 1.5 bn ground handling services contract for Riyadh Air’s flights at King Khalid International Airport, according to a disclosure to Tadawul. The contract begins on Sunday, 1 September 2024, and runs for 4.5 years, with a possible two-year extension. The investment size covers the potential contract extension.

Israel Aerospace Industries’ aviation arm to set up shop in Abu Dhabi: Israel Aerospace Industries (IAI)’s aviation arm will reconfigure 10 Boeing 777s from Emirates' fleet into cargo freighters at two hangars starting in October, marking its entry into Abu Dhabi, Bloomberg cites IAI’s Executive Vice President, Shmuel Kuzi, as saying in an interview. The move adds to IAI’s conversion sites in South Korea, the US, and the Etihad Airways Engineering facility in Abu Dhabi.

Not IAI’s first time converting aircraft for Emirates: The two sides previously inked an agreement in 2021, which saw IAI convert four aircraft for Emirates.

OTHER STORIES WORTH KNOWING THIS MORNING-

TotalEnergies supplies its first 100% biofuel cargo for ships in Singapore: French oil major TotalEnergies’s subsidiary TotalEnergies Marine Fuels has delivered its first 100% pure (B100) biofuel cargo to Singapore. The company used the MAPLE — a chemical bunker tanker owned by Global Energy Group — to transfer 700 metric tons of biofuel made from 100% Used Cooking Oil Methyl Ester to Korean logistics company Hyundai Glovis. (Statement)
Etihad cargo boosts its European freighter capacity: Etihad cargo is launching two new additional weekly freighter flights between Abu Dhabi and Madrid on 15 July. The move will add some 200 tonnes of cargo capacity on Etihad’s European routes. (Wam)

China runs a test flight on its largest cargo drone carrying 2 metric tons

China’s state-backed Sichuan Tengden Sci-tech Innovation has conducted test runs with its largest cargo drone with a payload capacity of 2 metric tons, Reuters reports. The twin-engine cargo drone was launched for a first 20-minute flight on a 100 km flight from southeastern Sichuan province to Shanghai.

Not the first test flight: State-owned Aviation Industry Corp of China (AVIC) completed the maiden flight of its HH-100 cargo drone back in June, the newswire writes. The drone has a payload capacity of 700 kg and a flight radius of 520 km.

What’s next? AVIC aims to trail-run next year its biggest cargo drone yet, the TP2000, which can travel four times farther than the HH-100 and has a payload capacity of up to 2 tons.

Why is this important? Chinese industries are leveraging cargo drones to shorten delivery times, lower transport costs, and access sites without conventional aviation facilities, insider sources told the newswire. The nation is easing airspace curbs and adding incentives to nourish its low-altitude economy.

The semiconductor and automobile industries made up 31.7% of South Korea’s exports in 2Q, amounting to USD 54.3 bn, Yonhap reports. Exports of chips accounted for around 20.3% of total exports, reaching a record high for the first time since 2017. The revival of the global chip market has been attributed to rising demand from the cloud computing and AI sectors.

Calendar

AUGUST

21-22 August (Wednesday-Thursday): Rex Fuels Global Expo & Conference 2024- Bitumen, Petrochemicals & Products, Dubai, UAE.

SEPTEMBER

2-4 September (Monday-Wednesday): Saudi Warehousing & Logistics Expo, Riyadh, Saudi Arabia.

3-5 September (Tuesday-Thursday): Egypt International Airshow, El Alamein, Egypt.

10-11 September (Tuesday-Wednesday): SkyMove MENA, Riyadh, Saudi Arabia.

12 September (Wednesday): Deadline for companies to submit bids for expansion and operation of Baghdad’s International Airport.

18-19 September (Wednesday-Thursday): Saudi Maritime & Logistics Congress, Dammam, Saudi Arabia.

23-25 September (Monday-Wednesday): WorldFreezonesOrganization’s Annual International Conference and Exhibition (AICE), Dubai, UAE.

23-26 September (Monday-Thursday): Freight Summit Global Conference, Dubai, UAE.

25-26 September (Wednesday-Thursday): Global Aerospace Summit, Abu Dhabi, UAE.

30 September - 2 October (Monday-Wednesday): African, Middle East & Islamic Finance Aviation 100 Awards, Dubai, UAE.

OCTOBER

6-8 October (Sunday-Tuesday): Routes World 2024, Bahrain.

8-10 October (Tuesday-Thursday): The Global Rail Transport Infrastructure Exhibition and Conference(Global Rail), Abu Dhabi, UAE.

7-9 October (Monday-Wednesday): AFSIC – Investing in Africa, London, UK.

8-10 October (Tuesday-Thursday): AntwerpXL Expo, Antwerp, Belgium.

13 October (Sunday): International Transport Workers’ Federation (ITF) Congress, Marrakesh, Morocco.

16-17 October (Monday-Tuesday): Global Airport & Aviation Forum, Jeddah, Saudi Arabia.

21-22 October (Monday-Tuesday): Smart Ports & Logistics Transformation Summit, Riyadh, Saudi Arabia.

22-24 October (Tuesday-Thursday): Asean Ports and Logistics, Johor, Malaysia.

22-24 October (Tuesday-Thursday): Global Ports Forum, Singapore.

26-27 October (Saturday-Sunday): International Conference on Tourism, Transport, and Logistics, Dubai, UAE.

NOVEMBER

11-12 November (Monday-Tuesday): World Advanced Manufacturing Logistics Summit & Expo, Riyadh, Saudi Arabia.

11-12 November (Monday-Tuesday): Saudi Airport Exhibition, Riyadh, Saudi Arabia.

11-14 November (Monday-Thursday): ADIPEC Maritime and Logistics Exhibition and Conference, Abu Dhabi, UAE.

13-15 November (Wednesday-Friday): The Bahrain International Airshow, Sakhir Airbase, Bahrain.

18-20 November (Monday-Wednesday): The Heavy Equipment and Truck Show, Damman, Saudi Arabia.

19-21 November (Tuesday-Thursday): Saudi International Maritime Forum, Dammam, Saudi Arabia.

18-19 November (Monday-Tuesday): G20 Summit, Rio de Janeiro, Brazil.

20-21 November (Wednesday-Thursday): Saudi Rail Exhibition, Riyadh, Saudi Arabia.

DECEMBER

2-3 December (Monday-Tuesday) Wings of Change Middle East, Riyadh, Saudi Arabia.

10-11 December (Tuesday-Wednesday): Rail Industry Summit, Casablanca, Morocco.

10-12 December (Tuesday-Thursday): Middle East Business Aviation, Dubai, UAE.

20 December (Wednesday): The Iran-Senegal Joint Economic Cooperation Commission, Dakar, Senegal.

EVENTS WITH NO SET DATE

IATA Annual General Meeting (AGM) and World Air Transport Summit, New Delhi, India.

1H 2024: Civil Construction subcontracts for construction firms in Oman for implementation of the Abu Dhabi - Suhar rail link to be announced.

2H 2024: Bahri’s barges for Saline Water Conversion Corporation (SWCC) to begin initial and commercial operation.

King Salman Energy Park is set to become operational.

The Cross-Border Digital Trade Forum, Dubai.

2025

FEBRUARY

4-5 February (Tuesday-Wednesday): Seatrade Maritime Qatar, Doha, Qatar.

APRIL

16-17 April: Global Ports Forum, Dubai, UAE.

Mid-2025: Iraq will complete phase one of the construction of the Grand Faw Port.

DHL and Aramco’s logistics and procurement hub in Saudi Arabia will commence operations.

AD Ports-operated Safaga Port’s multi-purpose terminal will become operational.

Phase 3 of APM Terminals Tangier MedPort to be complete and operational.

1Q 2025: Sadr Park’s Logistics Center in Riyadh to be completed.

1Q 2025: Phase twoof Jafza Logistics Park to be completed.

NOVEMBER

4-6 November: The International Air Cargo Association TIACA’s Air Cargo Forum 2025, Abu Dhabi, UAE.

2026

2026 UNCTAD Global Supply Chains Forum, Saudi Arabia.

2027

4Q 2027: Oman’s Musandam Airport construction to be completed.

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