AD Ports Group has signed a Joint Venture and Shareholders agreement with France-based CMA CGM Group, a world leader in shipping and logistics, to acquire a 20 percent stake in the Latakia International Container Terminal (LICT) for $22 million (AED 81 million).
LICT is Syria’s primary maritime gateway, handling over 95 percent of the country’s container volumes, especially for agricultural products and industrial goods.
This strategic move strengthens the partnership between the two companies and signals a new phase in the development of Syria’s vital trade infrastructure.
This new partnership aims to modernize terminal infrastructure, digital systems, and operational performance, with a key focus on revitalizing Latakia as a crucial trade hub for Syria and the Eastern Mediterranean. The initiative will support increased trade flows and foster long-term economic growth.
Captain Mohamed Juma Al Shamisi MD and CEO – AD Ports Group
“AD Ports is pleased to broaden our long-standing partnership with our valued partner, CMA CGM Group. This strategic agreement reflects the growing international collaboration between our organizations and reinforces AD Ports Group’s position as a global enabler of trade, logistics, and industry. Guided by the wise vision of our leadership in the United Arab Emirates, we are shaping a future defined by global connectivity, through strong alliances with leading organizations such as CMA CGM Group, partnerships that are mutually beneficial and contribute towards expanding our international footprint and the scale of our operations.”
CMA Terminals has been operating LICT since 2009 and 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.
Additionally, GFS, AD Ports Group’s 51 percent-owned container feeder shipping company, is well-positioned to start a couple of services on the East Mediterranean side that would include calling Latakia port, as per the statement.
