Abu Dhabi’s AD Ports Group has acquired Saudi Egyptian Investment Company’s (SEIC) 19.328 per cent stake in Alexandria Container & Cargo Handling Company (ALCN), one of Egypt’s largest container terminal operators, in a deal valued at approximately EGP13.24 billion (US$279.3 million).
The acquisition marks another milestone in AD Ports Group’s expansion strategy in Egypt, reinforcing its position as a key facilitator of trade in the Mediterranean region. It will enhance the Group’s ability to facilitate trade flows on the major East-West trade corridor from Asia through the Middle East into Europe, while also supporting Egypt’s vision for economic diversification and sustainable development.
AD Ports Group funded the transaction through a combination of existing cash and debt.
Since 2022, AD Ports Group has invested significantly in Egypt, acquiring Safina BV, a provider of maritime agency and cargo services. Moreover, the Group secured multiple long-term concessions to build and operate the US$200 million Safaga multipurpose terminal greenfield project, which will be the first internationally operated multipurpose cargo terminal in Upper Egypt, in addition to developing and operating three cruise terminals at the Red Sea ports of Safaga, Hurghada, and Sharm El Sheikh.
The Group also signed a 50-year renewable usufruct agreement in May 2025 to develop and operate KEZAD East Port Said, a 20sqkm industrial and logistics park near the Egyptian coastal city of Port Said at the Mediterranean mouth of the Suez Canal.
Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, commented: “By acquiring a stake in ALCN, we are expanding our operational footprint in one of the world’s most critical maritime routes.
“This investment supports our efforts to facilitate trade through this vital corridor, while deepening our partnerships and expanding our investments in Egypt. This is fully aligned with the directives of our wise leadership to drive economic diversification, strengthen regional integration, and deliver long-term value for our stakeholders.”
Established in 1984 and listed on the Egyptian Stock Exchange since 1995, ALCN operates two strategically located terminals on the Mediterranean, in Alexandria and El-Dekheilla ports, with a combined container capacity of 1.5 million TEUs and throughput of 1.07 million TEUs, implying a utilisation rate of approximately 71 per cent for the fiscal year ending 30 June 2025.
Together, the two terminals comprise approximately 1.6 kilometres of quay length and are directly connected to Egypt’s national rail network, ensuring seamless multimodal connectivity for international shipping lines and regional trade.
The company’s customer base includes global shipping leaders such as Mediterranean Shipping Company (MSC), Evergreen Marine Corporation, and Hapag Lloyd AG. In FY2024-25, it reported EGP8.37 billion (US$168 million) in revenue and EGP6.09 billion (US$122 million) in adjusted EBITDA.
Muteb Al Shathri, the Acting CEO of the Saudi Egyptian Investment Company, a Public Investment Fund (PIF) company, said: “Alexandria Container and Cargo Handling Company is one of our earliest investments in Egypt. Over the past two years, the Saudi Egyptian Investment Company and its partners have strengthened the company’s governance, set a clear strategy, and enabled its resources. These efforts have resulted in remarkable success, business expansion, and strong financial performance.
“This transaction reflects the success of the vision and strategy of the Saudi Egyptian Investment Company as a leading investor in the Egyptian market and as a partner of choice capable of enabling its investments. SEIC will utilise the proceeds of this transaction to pursue additional promising investment opportunities in the Egyptian market, reflecting its strong belief in the importance of the Egyptian market as a sustainable and thriving investment destination.”
Egypt plays a pivotal role in global commerce, as the gateway between the Mediterranean and the Red Sea. The Suez Canal handles approximately 12-15 per cent of global trade annually, representing nearly 30 per cent of global container traffic, according to The Atlantic Council. ALCN’s operations in Alexandria region accounts for approximately 60 per cent of the area’s total container capacity.
The transfer of shares is expected to be completed on Monday, 24 November.
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