Abu Dhabi’s ports, logistics and trade group AD Ports Group signed a joint venture and shareholders agreement with France-based CMA CGM Group to acquire a 20% stake in the Latakia International Container Terminal (LICT) for AED 81m ($22m).

The new partnership will focus on modernising terminal infrastructure, digital systems and operations.

LICT is Syria’s primary maritime gateway handling over 95% of the country’s container volumes, especially for agricultural products and industrial goods.

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 250,000 teu, with plans to increase it to 625,000 teu by the end of 2026.

Additionally, GFS, AD Ports Group’s 51%-owned container feeder shipping company, is also planning to start a couple of services on the East Mediterranean side that would include calls at Latakia port.

“We are pleased to broaden our long-standing partnership with our valued partner, CMA CGM Group,” said captain Mohamed Juma Al Shamisi, managing director and Group chief executive officer of AD Ports Group. “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.”

The new partnership builds on the growing relationship with CMA CGM Group, including the inauguration of CMA Terminals Khalifa Port, a $845m container terminal, operated by a joint venture between CMA Terminals, a subsidiary of CMA CGM Group (70%), and AD Ports Group (30%), the agreement to jointly develop, manage, and operate the New East Mole Terminal in Pointe-Noire, Republic of the Congo, and the inauguration of Al Faya Dry Port in February 2025.