To acquire minority stake in Latakia International Container Terminal in Syria
AD Ports Group recently signed a Joint Venture and Shareholders agreement with France-based CMA CGM Group, a world leader in shipping and logistics, to acquire a 20% stake in the Latakia International Container Terminal (LICT) for AED 81mn (US$ 22mn).
LICT is Syria’s primary maritime gateway handling over 95% of the country’s container volumes, especially for agricultural products and industrial goods.
The agreement was signed in Abu Dhabi, in presence of Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group and Rodolphe Saadé, Chairman and Chief Executive Officer, CMA CGM Group.
Global connectivity
“We are shaping a future defined by global connectivity, through strong alliances with leading organisations such as CMA CGM Group, partnerships that are mutually beneficial and contribute towards expanding our international footprint and the scale of our operations,” stressed Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group.
This new partnership will drive the modernisation of terminal infrastructure, digital systems, and operational performance, with a strategic focus on restoring Latakia’s role as a vital trade gateway for Syria and the Eastern Mediterranean, thereby supporting enhanced trade flows and long-term economic growth.
CMA Terminals has been operating LICT since 2009 and has signed an amended 30-year concession agreement last May. LICT’s current capacity stands at 250K TEUs with plans to increase it to 625K TEUs by the end of 2026.
