The logistics giant: “This investment supports our efforts to facilitate trade”
Abu Dhabi – Ad Ports Group has acquired the 19.328% stake held by the Saudi Egyptian Investment Company (Seic), a company controlled by the Saudi Public Investment Fund, in Alexandria Container & Cargo Handling Company (Alcn), for a value of 278 million dollars. The operation represents a significant step in Ad Ports Group’s expansion strategy in Egypt.
The investment aims to strengthen the group’s capacity to facilitate trade flows along the main East-West corridor connecting Asia, the Middle East, and Europe, while also contributing to Egypt’s vision of economic diversification and sustainable development. The CEO of Ad Ports Group, Mohamed Juma Al Shamisi, stated: “With the acquisition of a stake in Alcn we expand our operational presence in one of the world’s most crucial maritime routes. This investment supports our efforts to facilitate trade through this vital corridor, while simultaneously strengthening partnerships and increasing investments in Egypt. It is fully aligned with the directives of our leadership, which aim to foster economic diversification, further integrate the region, and generate long-term value for our stakeholders.”
