AD Ports, Uzbekistan's SEG to develop logistics business

TASHKENT. July 7 (Interfax) - AD Ports Group, a ports, industrial zones and logistics operator based in the United Arab Emirates, is forming a logistics joint venture with Uzbek oil and gas company Sanoat Energetika Guruhi (SEG), AD Ports said in a press release.

Under the joint venture agreement, the two companies will create a partnership for logistics and freight forwarding services including intermodal freight forwarding, road, rail and air transport services, the development of inland ports and container depots, warehousing and other logistics infrastructure, contract logistics and custom clearance, the company said.

AD Ports Group and SEG also signed a memorandum of understanding to support the development of an integrated food storage and distribution hub to enhance Uzbekistan's food trade across global markets and drive Central Asian food security, the press release said.

The hub will be located near Samarkand International Airport and will be operated by SEG subsidiary Marakand Logair.

AD Ports Group said it will open an office in Uzbekistan, its first in Central Asia, to oversee the projects announced under the agreements.

AD Ports Group, founded in 2006, has business interests in ports, economic zones, marine transport, logistics and digital technologies. The group's portfolio includes ten ports and terminals.

SEG (formerly Jizzakh) is controlled by Cyprus-based Belvor Holding Limited, which according to the Cyprus registry is owned by Bakhtier Fazylov, CEO and principal shareholder of oilfield services company Eriell.