AD Ports Group (ADX: ADPORTS) has signed a joint venture and shareholders’ agreement with France-based CMA CGM Group, a global leader in shipping and logistics, to acquire a 20 per cent stake in the Latakia International Container Terminal (LICT) for AED81 million (US$22 million).
Located on Syria’s western coast, LICT is the country’s main maritime gateway, handling more than 95 per cent of Syria’s containerised trade, including agricultural and industrial goods.
The agreement was signed in Abu Dhabi in the presence of Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, and Rodolphe Saadé, Chairman and Chief Executive Officer of CMA CGM Group.
Captain Al Shamisi said the transaction builds on a long-standing relationship between the two organisations and reinforces AD Ports Group’s global ambitions. “We are pleased to broaden our partnership with CMA CGM Group,” he said.
“This strategic agreement reflects the growing international collaboration between our organisations and reinforces AD Ports Group’s position as a global enabler of trade, logistics and industry. Guided by the UAE’s wise leadership, we are shaping a future defined by global connectivity through strong, mutually beneficial alliances.”
The new partnership aims to modernise LICT’s terminal infrastructure and digital systems, enhancing operational performance and supporting the port’s role as a key gateway for regional trade. The initiative will also contribute to Syria’s broader economic recovery by restoring Latakia’s status as a strategic maritime hub for the Eastern Mediterranean.
CMA Terminals, a subsidiary of the CMA CGM Group, has operated LICT since 2009 and signed an amended 30-year concession agreement in May 2025. The terminal currently has a handling capacity of 250,000 TEUs, with expansion plans targeting 625,000 TEUs by the end of 2026.
AD Ports Group’s container feeder shipping company, GFS, in which it holds a 51 per cent stake, is expected to introduce new East Mediterranean routes including direct calls at Latakia Port, further strengthening regional trade links.
The acquisition deepens an expanding partnership between AD Ports Group and CMA CGM. In December 2024, the two companies inaugurated CMA Terminals Khalifa Port, a AED3.1 billion (US$845 million) joint venture facility in Abu Dhabi.
Earlier this year, they also signed a shareholders’ agreement to develop and operate the New East Mole multipurpose terminal in Pointe-Noire, Republic of the Congo.
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