AD Ports Group, a global leader in trade, logistics, and industry, has signed a Joint Venture and Shareholders Agreement with France-based CMA CGM Group to acquire a 20% stake in Syria’s Latakia International Container Terminal (LICT) for AED 81 million (USD 22 million). This collaboration aims to revitalise Syria’s primary maritime gateway and strengthen trade links across the Eastern Mediterranean region.
Strategic Partnership to Boost Trade Connectivity
The signing of the agreement took place in Abu Dhabi in the presence of Captain Mohamed Juma Al Shamisi, CEO of AD Ports Group, and Rodolphe Saadé, CEO of CMA CGM Group. This partnership marks a major step in enhancing global trade collaboration between the UAE and France.
Through this venture, both companies aim to modernise LICT’s terminal infrastructure, introduce advanced digital systems, and improve operational efficiency. The initiative will not only restore Latakia’s role as a major trade hub but also support Syria’s economic recovery by strengthening export and import operations for agricultural and industrial goods.
Expanding Global Footprint and Maritime Operations
CMA Terminals, a subsidiary of CMA CGM, has been operating LICT since 2009 and recently extended its concession for 30 years. With plans to increase the terminal’s capacity from 250,000 TEUs to 625,000 TEUs by 2026, this collaboration highlights a shared vision for growth and sustainability in port management.
AD Ports Group’s feeder shipping company, GFS, is also set to launch new services connecting Latakia with key East Mediterranean destinations. Additionally, this deal follows previous successful collaborations between AD Ports and CMA CGM, including the AED 3.1 billion CMA Terminals Khalifa Port in Abu Dhabi and the joint venture for the New East Mole terminal in Congo.
The partnership between AD Ports Group and CMA CGM Group to acquire a stake in LICT represents more than a business transaction it signifies a strategic commitment to regional economic growth and maritime development. By modernising Syria’s key port and enhancing trade infrastructure, this alliance strengthens global connectivity and reaffirms both companies’ leadership in the logistics and shipping industry.
Did you subscribe to our daily Newsletter?
It’s Free Click here to Subscribe!
Source: AD PORTS GROUP
