The United Arab Emirates-based AD Ports Group has announced that it has signed a memorandum of understanding with Brazilian iron ore producer Vale to develop a Mega Hub in Abu Dhabi for industrial complexes that will produce low-carbon steel products for both local and overseas markets.
According to the agreement, land and related services will be allocated from Khalifa Economic Zones Abu Dhabi (KEZAD) for the Mega Hub, and a state-of-the-art handling facility with an annual capacity of up to 50 million mt of cargo at Khalifa Port will be developed.
Meanwhile, Vale has already signed agreements with Oman-based Port of Duqm Company and power and water utility company Marafiq to establish an integrated green hydrogen-based industrial complex for green steel in the Special Economic Zone at Duqm, as SteelOrbis previously reported.
Vale aims to reduce 33 percent of Scope 1 and 2 emissions by 2030, and 15 percent of Scope 3 emissions by 2035, achieving net zero by 2050.