Wedoany.com Report-Nov. 22, AD Ports Group has acquired the full 19.3% stake held by Saudi Egyptian Investment Company (SEIC) in Alexandria Container & Cargo Handling Company (ALCN) for approximately $278 million, strengthening its position in Egypt’s container terminal sector.

ALCN operates major facilities at Alexandria and El-Dekheilla ports, offering a combined annual capacity of 1.5 million TEU and handling 1.07 million TEU in fiscal year 2025. The terminals provide 1.6 km of quay length and direct rail connectivity, supporting efficient domestic and regional cargo movement. ALCN recorded revenue of $176.5 million in FY 2025 with a utilisation rate of around 71%.

The transaction aligns with AD Ports Group’s ongoing expansion across the eastern Mediterranean and key east–west trade routes. Funding was arranged through a combination of cash reserves and debt facilities.

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 strategy to enhance trade connectivity and regional cooperation.

SEIC, an entity owned by Saudi Arabia’s Public Investment Fund, stated that the divestment enables capital reallocation toward new investment opportunities in Egypt. Since acquiring the stake in 2022, SEIC contributed to operational enhancements that increased ALCN’s operating revenue by 194%.

The deal follows AD Ports’ recent agreement to purchase a 20% interest in Latakia International Container Terminal in Syria from CMA CGM for $22 million, with both parties set to co-manage the facility handling over 95% of Syria’s container traffic.

Since 2022, AD Ports has steadily expanded its footprint in Egypt through the acquisition of regional shipping operator Transmar, port services provider TCI, and maritime agency Safina. Earlier this year, the group also secured a 50-year concession with the Suez Canal Economic Zone to develop a 20-square-kilometre logistics and industrial zone east of Port Said on the Mediterranean coast.

These investments reinforce AD Ports Group’s integrated presence across terminals, shipping, and logistics in the eastern Mediterranean region.