AD Ports Expands in Egypt With New Stake in ALCN

A container terminal at a port as seen from above
Corporate News Ports & Logistics Africa
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AD Ports Group has strengthened its position in Egypt’s container industry by acquiring the Saudi Egyptian Investment Company’s (SEIC) entire 19.3% share in Alexandria Container & Cargo Handling Company (ALCN). The deal is valued at approximately $278 million.

The purchase supports AD Ports’ broader strategy to grow its presence across the eastern Mediterranean as the Abu Dhabi based group increases its scale along key east–west shipping routes. ALCN is among Egypt’s largest terminal operators, managing facilities in Alexandria and El-Dekheilla with a combined capacity of 1.5 million teu and throughput of 1.07 million teu in FY 2025.

Together, the terminals provide roughly 1.6 kilometers of quay and are connected to Egypt’s national rail network, giving them direct multimodal access for cargo moving domestically and regionally. ALCN recorded FY 2025 revenue of $176.5 million and operated at about 71% utilization.

SEIC, which is owned by the Public Investment Fund, said the sale aligns with its strategy of optimizing returns and redeploying capital into new opportunities in Egypt. Since taking its stake in 2022, SEIC contributed to operational upgrades that helped ALCN increase operating revenue by 194%.

AD Ports Group financed the transaction through a mix of cash and debt. Group CEO Captain Mohamed Juma Al Shamisi said the acquisition expands the company’s presence “in one of the world’s most critical maritime routes” and supports its long term objectives of strengthening trade connectivity and regional collaboration.

The move comes shortly after AD Ports agreed to buy a 20% stake in Latakia International Container Terminal from CMA CGM for AED 81 million ($22 million). Under that agreement, both companies will jointly operate the Syrian facility, which handles more than 95% of the nation’s container traffic.

Since 2022, AD Ports has made several investments in Egypt, including acquiring the regional shipping line Transmar, the port operator and stevedoring company TCI, and the maritime agency and cargo services provider Safina. Earlier in the year, the group also signed a 50 year concession with the Suez Canal Economic Zone to develop a 20 square kilometer logistics and industrial area east of Port Said.